Obama fights McCain
US is holding their presidential election today. We have seen a rally in the US markets since last week and many people believe that is so called presidential election rally. Obama fights against McCain. It is also one of the historical moment for American as they either elect the first African American or the first oldest president elected to a first term.
Where to you think the stockmarket will head to?
There are some people believes that the market rally will last for about 2 weeks based on historical observation. However, honestly, I do not know and I do not want to let those so called rumour affect my trading behaviour.
Stock Picks Near Resistance – McDonald & Lorillard
I have selected many stock picks (Stock Picks Part 1 & Part 2) yesterday on the US markets as I have seen many stocks are trading now closer to their classical or MA resistance during this rally. All rally will need to take a break, I think it is about time to have some correction or to resume the earlier down trend.
I sticked to my screening rules to look for some stocks to trade while Obama is fighting against McCain. I does not affect me much whether who is going to win this election. But importantly, I do not think the market will react positively to either of the candidate because this crisis is far too easy to settle or resolve.
I shorted the following 2 counters today, McDonalds & Lorillard . Both this stock picks are trading near to the 100d and 200d MA resistance, and usually this resistance is harder to break!
Mcdonalds Corp Stocks Picks while Obama fights McCain
Lorillard Inc Stock Market Picks while Obama fights McCain
DISCLAIMER: This information is used for learning purposes only. It does not constitute an offer or solicitation to buy or sell. You should do your own analysis on top of my postings.
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