Live at 1 p.m. ET: A stock that’s rallied 13.2% each November for the past 23 years and more!
Stocks are weak this morning as momentum levels are grossly overextended to the upside following the post-election market rally.
The simple truth is the market needs to consolidate some before moving higher again. Monday was also a federal holiday, making it a fragmented week with the bond market closed.
Because of that, I would consider today more like a Monday when it comes to trading. We have a lot of earnings reports on deck today, which could provide some juice.
Shopify (SHOP) in particular is a very important stock because it’s a reflection of the economy.
Aside from earnings, the biggest thing driving the market right now is President-Elect Donald Trump’s planned tariffs and economic policy proposals. The long bond in turn is going down, which is causing rates to go up.
This is not a political statement, this is just the economic impact that is hitting the market right now.
Crude oil is also falling as the dollar rises…
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. This Stock Goes Up Every November
OK, so my plan wasn’t to email you about this…
But after hitting a 21-trade win streak, I couldn’t hold it back…
You see, I’m currently targeting what could be our 22nd win — on one large-cap stock that’s gone up 13.2% on average every November for the past 23 years!
And I’d like you to be a part of it — and even see the special ticker. Hint: It’s my No. 1 stock for this month…
So if you’d like to see the next stock that could hopefully extend our winning streak, then you’ll want to join me live at 1 p.m. ET today, Nov. 12!
Of course, no one can promise gains or avoid losses, but this could be our next winner, and you don’t want to miss it!
