Afternoon Note
Factory orders were up again for the fifth consecutive month and came in slightly better than consensus. The manufacturing renaissance resumes, as we all wait the tally of the big day.
The message of the market is Trump will be reelected, as this is the best election day sessions since 1984 when the three-month rally foretold Ronald Reagan would be reelected. Of course, the financial media is trying hard to talk this puppy lower. I should point out; we need to take out last Tuesday’s high before the market can really become aggressive to the upside.
Resistance begins at 3,390 through 3,400.
S&P 500
By the way, those so-called Biden niches, like marijuana and Chinese solar stocks, are struggling along with lockdown names, which should be soaring based on media hype. (I am spying them, but as a trading idea at some point.)
This is really an exciting time to be alive. We will live with the final tally, and we work to make money under any circumstance. Do not panic and do not fret.
God Bless America
Comments |
Thanks, Charles, for your knowledgeable advice and sober takes on the country's Covid crises the past months. William Brown on 11/3/2020 1:56:33 PM |
Excellent, Charles, brief and to the point and I agree with " God bless America", in the Name of Righteousness, the Lord Jesus Christ, Amen. Forrest W Byers on 11/3/2020 2:01:32 PM |
Trump 2020! if he looses, life will go on as will the stock market, dont panic! keith ratchek on 11/3/2020 3:13:22 PM |
I also read Psalms 37 this morning and as a survivor of the manufacturing recession/depression I don’t see how this bodes for Trump to be reelected. Could you explain. Kevin O. Grier on 11/3/2020 3:23:46 PM |
Not sure what you are referring to but manufacturing jobs increased by 512,000 from Dec 2016 to Nov 2019 and from the bottom of the covid19 recession there has been a rebound of 716,000 (April to September). CP Charles Payne on 11/3/2020 6:13:07 PM |
Your non panic reaction to the markets as every cable channel running is screaming fire thankfully you seen the smoke screen keep on your mark. I thank you for your thoughtful calm decisions. David Long on 11/3/2020 3:34:47 PM |
Thank you very much David. CP Charles Payne on 11/3/2020 3:36:03 PM |
Thank you for your keeping me calm during this frightening down turn. Your reassuring voice is really appreciated. Jerry Lowry on 11/3/2020 4:14:00 PM |
Every body talking about Hunter But hillary got away with it hunter will get away with it obama will get away with it corruption starts at the top and runs down hill they should pardon maydoff they could trade, trade secrets How much has obama's net worth increased since retired bet there's a lot of found money garry brewer on 11/3/2020 4:40:43 PM |
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