Getting ready for the elections
Welcome to the Nov. 3rd/End of Week edition of Smart Money for the Small Investor.
Recap: DJIA was down 32.50, while the S&P 500 and Nasdaq were both down 3. This extended losses on the week, with all three major indexes being down between .75% and 1%. However, the indexes still had solid gains on the month (1-1.5%) and are still at phenomenal levels compared to a year ago.
The midterm elections are Tuesday November 7th. This is going to create short term havoc and buying oppoutunities in the market. If the Dems win, Big oil and Big Pharma will take a hit, and the biotechs will jump. However, this hit will just be temporary, and you'll be able to make money when they rebound in a couple of weeks. If the Dems fail to win either the house or the senate, look for Big oil to extend it's gains, Big Pharma to jump and biotech to be flat to negative.
Recap: DJIA was down 32.50, while the S&P 500 and Nasdaq were both down 3. This extended losses on the week, with all three major indexes being down between .75% and 1%. However, the indexes still had solid gains on the month (1-1.5%) and are still at phenomenal levels compared to a year ago.
The midterm elections are Tuesday November 7th. This is going to create short term havoc and buying oppoutunities in the market. If the Dems win, Big oil and Big Pharma will take a hit, and the biotechs will jump. However, this hit will just be temporary, and you'll be able to make money when they rebound in a couple of weeks. If the Dems fail to win either the house or the senate, look for Big oil to extend it's gains, Big Pharma to jump and biotech to be flat to negative.
posted by Dr. Cam at 5:19 PM
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