To The Moon

Last Fri (04 Nov 2022) was quite something else. At the start of trading day, market dipped and then surged to its all-day high by 10:40am. Just like a rollercoaster, it "coasted" around until around 2:00pm where it re-gained some "lost" grounds again.

All in all

Market 04 Nov perf / Pre-Market indicators 07 Nov

1. DJIA : +1.26% (+401.97 to 32,403.22).

2. S&P 500 : +1.36% (+50.66 to 3,770.55). Best showing.

3. Nasdaq : +1.28 (+132.31 to 10,342.94).

Some have coined the term "Santa Rally" to describe last Fri (04 Nov) performances. I wonder if "Midterm Rally" would've been more appropriate; given that this week is election day where a new Senate and new House of Representative will be voted in to "collaborate" with President incumbent until the next General Election.

From past Market performances on the run up to Midterm election, more often than not, market had mainly been positive and well-behaved. Google for details if interested.

US non-Farm payroll / Unemployment rate charts

More than that, the Employment Report out last Friday had a role in getting the market optimistic in its "macro economics" manner. Nonfarm payroll was up and so was unemployment.

Is the preliminary report showing signs that the Fed interest hike is working ? As mentioned by Fed Chairman Mr Powell, they are interested in consistent monthly results. They will not stop until the task of bringing inflation back to 2% is accomplished.

Going into Mon trading, how will the market behave today ?

Midterm election pin

Personally think that at least for today and likely tomorrow, the "Santa rally" (Midterm rally) momentum will still power the market to a "high".  Pre-market indicators and Bitcoin & Ethereum seems so as well.  

If this is indeed so, should we as "rational" investors chase after our shortlisted stocks ?  Or should we sit out today and (maybe) tomorrow; at least until the coast is clear ?  All the while still monitoring their price movements; such that in the event of a dip-turn we are armed and ready.

In case you are reading my post for the first time, I will be keeping a tab on (a) financial (b) energy and (c) materials stock :

$Deutsche Bank AG(DB)$ 

$Cheniere(LNG)$ 

$Lithium Americas Corp.(LAC)$ 

Truth be told, I may even look to offload 1 or 2 of my stock's, as long as I am not in the "Red" after sale.  This just might be the time to re-balance my portfolio.  Have to start somewhere no ?

What about you ?  Will you be loading or off-loading any stock/s today ?  Like to share in the Comments section below ?  Interested to find out... Thanks.

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Matching song ? Enough Is Enough (No More Tears) by duo Donna Summer & Barbra Streisand.  Very 80s & fabulous !  Dunno ?  YouTube it.

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