Tuesday’s Daily Flashnews
The final trading day before the election results out on Tuesday night…and Wednesday's FED meeting…
On Monday, Scorpio created some uncertain trends in the market. Selling pressure was witnessed in most stocks, but buying was seen in oil and energy stocks, which means traders favor Trump. My predictions favors Kamala. 5% chance of elections going in court or if the candidates refuse to accept results, which will be very bad for the market, and it can fall shaprly lower.
Currencies gained value, and dollars lost value, which is expected regardless of who wins, as the short-term top was achieved in USD last week.
Metals traded on both sides. Any uncertainty of no clear win can push metals shaprly higher.
Grains and softs traded on both sides; thirty-year bonds traded mixed, but surely buying is at a great level. Today, after the market house election, results will start coming, and traders must expect volatility but get ready for trades as it will be a great day to make some good money on our advice, so read each section carefully.
My trades for this week are:
Buying metals on Tuesday and close on late Wednesday.
On Tuesday, the buying market was weak as it is very supportive of stocks and global markets, so must build some aggressive long positions. Buy YINN and call options in TQQQ. ALAB and PLTR moved higher as predicted after earnings; now it is time to add NET and DDOG.
Everyone is saying Trump losing the election may bring the market sharply lower, but my advice is to get ready to buy aggressive long positions. The market is falling on Trump losing the election.
Sell USD on the higher sides and buy Bonds on weakness. Buy aggressively long in emerging market currencies like Rand and Real. Frontline currencies will rebound.
Avoid softs and grains, but they are in the process of bottoming out.
Oil will hold $65.68; oil has been in a short-term astro-supportive cycle since last week. Higher sides, $75.78 and $78.88, will be great levels to short.
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Thanks & God Bless
Mahendra Sharma