Stocks are relatively flat ahead of the open on the final trading day of what has been a whirlwind week following the election, and then a subdued reaction to the second FOMC interest rate cut on Thursday.
Reality is starting to set in that there won’t be anything going on until the president takes office, and even then, it will take months and even years until new policies take shape.
And then people eventually realize that the president doesn’t even have the control to do what they think he can…
That’s not to discourage anyone.
It’s just the reality of how these things ultimately work — the stock market doesn’t really care who the president is. If you don’t believe me, go back and look at the stock market returns by president… They’re generally all good!
Tech stocks are trailing most this morning on the heels of some earnings reports putting a damper on things.
One thing to keep in mind: If the FANG stocks didn’t perform all that great, then what do you think we should expect from the chip stocks reporting in the near future?
Things could get bumpy!
The good thing about the Nasdaq being down this morning is that we’ll get to see which tech stocks are really strong in the face of a pullback…
I’ll cover all that, my daily hitlist of longs and shorts and more in this morning’s “Premarket Must Watch” video!
Roger Scott
Roger Scott Trading
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P.S. You See This Pink Line?
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It’s a unique pattern that doesn’t require you to stare at charts for hours…
Neither do you need to bet on earnings reports…
Or chase news headlines.
All you have to do is wait for the daily candle to close below the indicator…
Open a trade the very next morning…
Just like I did with Bath & Body Works Inc (BBWI) back on Aug. 1…
Anyone who followed along could’ve come back to…
A mind-melting 82% return in one day!
Now, there were smaller wins, and I can’t promise that this pattern will stay undefeated forever but…
Like I said above, we’ve gone 18 for 18 on real trades since the strategy’s official inception in July…
And I truly believe that it’s the best way to isolate meaningful wins in both good times and bad!
Just Follow This Link to Check It Out!
P.S. This is the exact pattern I prefer to teach to our employees, because It doesn’t require them to be glued to the markets all day.
*The profits and performance shown are not typical, we make no future earnings claims, and you may lose money. From 7/15/2024 through 11/6/24, the average win rate on live, published trade alerts is 100%. The average return on options trades was 27.82% over a 3.83-day average hold time.
