By: Tom Gentile
on January 13th, 2021
As much as I try not to get too political (especially in this weekly newsletter), items of a political nature need to be brought up and discussed as they pertain to their effects on the markets.
President Trump was impeached by the House a second time – first time in history a President got impeached twice.
The Senate doesn’t plan to come back early from their break to vote. In fact, they will be back one day (the 19th) before Trump’s presidency officially ends.
The Dow finished slightly down. Could the markets have traded higher without this issue hanging over it?
Possibly, but there are other things going on that the markets are paying attention to, like increased COVID concerns and new strains showing up from the U.S., how much faster and how many more vaccines will take place and we have earnings coming up on the real short-term horizon.
The thing that seems to keep the markets holding this level with the prospects of it still inching higher from here is the potential additional stimulus being talked about being released.
Time to keep focusing on the strategies you find work best for you and utilize Tom’s Option Tools to find the setups you want to then see if you can find an appropriate risk option trade on them and adhere to your money management.
Be well everyone!
C1P Chief 1-Percenter