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A ‘Red Wave’ Could Boot Pelosi From Power, Sending This Stock Soaring

by | Nov 7, 2022 | Market Outlook, Options, Stocks

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The market is giving us all kinds of mixed signals right now… Tech and growth names are weak… Oil, value and defensive stocks are strong while the Federal Reserve wants pain…

We had a big jobs report that came out on Friday, which showed too many people still working… That’s bad news in this twisted environment because the Fed can keep raising rates to infinity to try and cover its own mistakes, of which there are many. 

We have key inflation data coming Thursday in the Consumer Price Index — which is must-see data each month… There’s no reason to believe the CPI data will be positive in regard to inflation.

On top of all that, we also have the midterm elections Tuesday, and I see a massive red wave taking over the House and Senate, which is why I’m still bullish on oil stocks.* That has been the biggest no-brainer trade all year, in my opinion.

And that brings me to my favorite trade for this week’s elections…

Crush the Open

I think finance and bank stocks are also running higher on the assumption of a bigger power divide with Republicans regaining some control… And Goldman Sachs Group Inc. (NYSE: GS) is my top stock for the midterm elections, and that’s because of the likely removal of Nancy Pelosi as speaker of the House, which will be seen as a relief for Wall Street.

We also have several earnings trades to discuss, so check out Crush the Open up top! We’ll go over several stocks, and one trade idea in particular that Lance breaks down with full details…

Are there any topics you’d like to see me cover or questions you’d like answered? Send me an email at jeff@joyofthetrade.com. And be sure to stay ahead of the markets by subscribing to our YouTube channel and our Instagram page for all of the latest! Don’t forget to like, subscribe and leave us a comment!

You can also join my free Telegram channel, where I share market insights real time throughout the week, articles, videos and more!

P.S. Which Stocks Will Have the Most Volume Today?

 When we see big volume hitting a stock, it’s usually paired with a big move in price…

And right now — due to the elections — lots of stocks seem to be seeing some pretty significant volume.

For traders like us, this is a great time to leverage that volume in our trading.

If you’re curious what other stocks are seeing these outsized volumes…

Go Ahead and Click This Link

*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk. 

WRITTEN BY<br>Jeff Zananiri

Jeff Zananiri

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