Posted in
Newsletter
By: Tom Gentile
on October 28th, 2020
October may have had a bullish bias to it via the Money Calendar, but its historic volatility spoke for the prospects of a somewhat spooky October… but I have to tell you I didn’t anticipate it being THIS spooky!
The rising fears of a second wave of coronavirus and accelerating new cases has everyone concerned about another round of lockdowns across the globe.
This is not boding well for the markets.
Key things to consider. Lightening the amount of trades in the portfolio. Lighten the size of the contracts. Preserve capital on existing trades.
And then do as I and Jay have mentioned in the past – Target shoot.
Look for those securities that have retraced to old resistance levels that could become new support, especially with the prospect of a relief rally post- election.
Tom Gentile
C1P Chief 1-Percenter