Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Tuesday, the 6th of November.
Yesterday, we invited users to vote on our own poll on who is going to win the 2012 presidential election. The poll is presently indicating 54% for Romney and 46% Obama, a Romney win.
The poll on our MarketClub.com website currently shows Governor Romney with 50% and President Obama with 50%, a dead heat.
What do you think?
The markets are not indicating one way or another who is going to win the election. The equity markets are trading higher for the week, as is crude oil, gold, and silver, while the dollar remains on the defensive.
We will also be examining three stocks that turned up on our Trade Triangle Scan today:
Computer Sciences (CSC), Maximum Integrated Products (MXIM), and Devry (DV)
Tune in tomorrow for our weekly one hour MarketClub TV show and we will dissect and discuss all of the major markets and the trends we see for the balance of 2012.
Now, let's go to the markets and see what our Trade Triangles are indicating.
Have a great trading day and don't forget to vote!
Adam Hewison
Founder & President INO.com and co-founder of MarketClub.com.
Despite all the predictions that Mitt Romney would be good for the market I am now seeing that the day before the elction the market jumped up over 1%, then during the count when it was not sure who would win, the DOW futures dropped nearly 1%, and as soon as Obama was declared the winner the futures went from about -90 to -4 (last count).
I would say there has been a lot of political bias in all these forecasts and I would like to suggest that we stick to the triangles only. Leave the emotions to those who have a certain political axe to grind. Remember the man on the island, cut off from the outside world except his trading charts?.
Anyhow have a great day and happy trading. Konrad