October once again proved to be a challenging month for stocks. For 2020, it came in second to March. The final drop came as many big-name tech companies reported good earnings. Great earnings would have been better. And it also didn’t help that many of these companies can’t offer much in the way of guidance in these uncertain times.
Many traders see that trend continuing. While the election is tomorrow, a few pundits are pointing to contested elections that may drag out the final results for weeks. That uncertainty could add additional volatility to stocks until it’s resolved. Don’t worry, though. Markets always find something to worry about. So once the election uncertainty ends, it’ll be something else. Today’s fear-based moves, however, are enough to make one wish for the China trade war volatility of 2019.
Now here’s the rest of the news:
Since making new highs this September, the Dow is down roughly 10% – just a day before the election. And if the election is contested … the market could be in turmoil for weeks, maybe even months.
Do the best you can to make hay while the sun is shining. But be aware that the storm clouds that are building right now are the most serious our ‘country’ has ever seen.
November 02, 2019
We usually like a challenge … a puzzle … and DarrenDaily provides us with one today!
Good or Great! 😉