As election night is upon us, I will be sitting back and watching all night to see how this could possibly affect the markets tomorrow. Being my first year trading, I have yet to trade through an election and will stay very safe tomorrow. I do have 2 small positions in $ENPH and $CBIS that I’m holding overnight. I’ve gone back and done some research on how the markets have reacted in prior elections, however in my hones opinion, I think this election is a whole new breed in itself. I think regardless of who wins, we’ll probably see a selloff with a lot of stocks at a discount. Typically I stick with these lower priced POS stocks that jump 20-50% in a day-few weeks but I will keep my eyes open in coming days for any opportunities (whether they’re large cap or small cap) I feel are worth the risk. I am going to be EXTRA careful in this market right now as a newer trader and I suggest you all do the same!! I will obviously be watching my 2 positions very carefully, which both closed nicely today, first thing in the morning. I hope you all get in some studying and please do your due diligence! I hope you all have a great night and I’ll see you all manana on Twitter!
Current Positions:
Long $ENPH 1000 shares at $1.20 with the goal of it breaking out past $1.23-$1.25. I’m risking roughly $0,10 here and would love to see that breakout in the next few days above $1.25. This did drop off a little at the close and I’m not too concerned because it’s probably just people selling into tomorrow’s election. Not a huge drop and held $1.16 nicely. I’m thinking I will sell this by weeks end here if we get that pop above $1.25 in the next day or two. I think this can really run as this is one of my favorite chart patterns. (ORIG, GBSN, SUNEQ, etc)
Long 10k shares of $CBIS at $0.063. I’m risking roughly $0.005 with a goal of this testing $0.07’s. I bought this towards the close as it was closing near it’s highs. Only a few MJ stocks held up into the close today and I wanted to pick the one I felt would be most likely to gap up in the morning. I considered $CANN and then realized everyone and their mother was in it so I decided to stay out….Plus, it’s a little higher priced than I want. You all know I prefer stocks under $2 for a small account by now! I don’t really plan on keeping this past tomorrow and will most likely sell in the morning.
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I'm holding CBIS with you as well Matt, I think it will hold up nicely for the short-term.
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