Successful investors make money by preparing for scenarios without letting their politics cloud their judgement. That’s a difficult task, especially in these partisan times. But I am politically agnostic, and I see my job as helping other investors.
To understand the new development today, let us look at an annotated chart.
The chart is of the Nasdaq 100 ETF QQQ. Similar action can be seen in the charts of the S&P 500 ETF SPY, small-cap ETF IWM, bond ETF TLT, gold ETF GLD, and silver ETF SLV.
The reason I picked QQQ is because it has heavy weighting of popular stocks including Apple AAPL, Amazon AMZN, -0.27% Google GOOG, GOOGL, Facebook FB, Netflix NFLX, Nvidia NVDA, and Tesla TSLA.
The chart shows that investors did not care when FBI Director James Comey was fired, even though Democrats at that time were amplifying the talk of a possible Trump impeachment.
A few days later, when a special prosecutor was appointed, the market had a very bad day. But after one bad day, the bulls took charge. Still, the market has not made significant headway since then.
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The new development is that Donald Trump Jr. has released emails that clearly show he was aware of Russia meddling in the U.S. presidential election. This is strong evidence that counters Trump’s prior assertions…Read more at MarketWatch
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