Good morning everyone.
Election Day 2016 has finally arrived, the robot calls will end, all that hot air will dissipate and perhaps we can get back to some normal market activity. I hope that I’m wrong on this but I fear is that although the campaigns are behind us the lingering effects of this election will haunt us for weeks, months and maybe even years to come. I’m expecting to see considerable volatility as we sort out the damage that has been created. No matter who wins we should all be prepared for a substantial gap Wednesday morning in either direction.
It is my intention to continue to sit on my hands today to protect my capital against the unknown outcome and the emotional reaction that will likely occur. Just imagine we had been trading with the market direction and had been holding a portfolio of short trades yesterday. That would have been painful!
There is little in the economic news that will affect trading today so don’t be surprised if we see choppy price action as America votes.
No matter the outcome I believe better days are ahead for the market and a trade-able direction will emerge. Get out and Vote!
Trade Wisely,
Doug
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