Premarket Update: Election Hangover and My Watch List

Dear Aspiring Investor, The S&P futures added another 0.5% in premarket hours as investors digested the lack of results from Election Night. Last night, markets swung based on the uncertainty of the pending election totals. We’ll likely be waiting a few more days for official results out of Pennsylvania, Georgia, Michigan, and a few more states. This is why I recommended MTB Bank (MTB) stock on Monday (as banking stocks should do well regardless of the winner) and a strong drink yesterday. We’re going to have to play the waiting game. But it appears that President Donald Trump topped expectations, while Joe Biden’s campaign is a bit underwhelmed by the performance. I wish I had answers. I don’t. But let’s find a way to profit, because - as I’ve said - I don’t care who wins the election. I care about the best ways to make money in the weeks ahead. And I have a plan. Before we dig into premarket news and my Watchlist, let's look at what happened in the markets Tuesday. - The Dow Jone added 2%, or 555 points. - S&P 500 gained 1.8%, or 59 points. - Nasdaq finished up 1.85%, or another 203 points. The Rundown: Today’s Top Market Stories Today’s Outlook The underperformance of Joe Biden and the likelihood that the GOP kept the Senate will dominate headlines this week. This is what I warned about a few weeks ago. There will likely be lawsuits, contested ballots, and long delays in counting state election results. What I’d be watching - if this drags on for more than a week - is investor patience. It’s possible that we see a flight to safety in 6 to 7 days without a clear answer. So, let’s focus on the more important market factor TODAY. The Federal Reserve will kick off a two-day meeting this morning. Fed Chair Jerome Powell will issue a statement tomorrow after the event. The Fed has already said that it will keep interest rates near 0% for the foreseeable future. We’re looking for two things from the Fed to provide support. - First, the Fed will likely issue a statement on whether it plans to extend market operations to boost the economy. - Second - despite this very turbulent political time - the Fed will probably make a statement on the lack of fiscal stimulus from Congress and the White House. Green Speculators Out This morning, there will be a lot of chatter - again - about what stocks would succeed if Trump or Biden win the election. But it is apparent that Wall Street had bet big on a Biden victory and a Democratic sweep. This morning, renewable energy and cannabis stocks took the hardest hits in premarket hours. Democrat VP candidate Kamala Harris had said that a Biden administration would decriminalize cannabis at a federal level. This morning cannabis producer Tilray (TLRY) was off nearly 3%. Meanwhile, energy has been a central debate between the two parties over climate change. The iShares Global Clean Energy ETF (NASDAQ: ICLN) - a massive alternative energy fund - dropped 2%. The ETF had been on a major run due to the anticipation of a Biden victory. Tomorrow is the Day Tomorrow, I'll be making my latest pick for my Family Portfolio. And I'll soon be releasing my top stock trend for the year ahead. This will be one of the busiest weeks ever for my Family Portfolio service. [Join today and get access]( to my latest real-money picks. Covid Calculations The final point I want to make is around COVID. The latest data is that nearly 20% of the New York City population was affected by COVID. The latest data, however, shows that daily U.S. numbers for COVID cases came in an average of 83,805 over the last week. Today, 21 states have seen COVID numbers hit a record level. This figure includes key political battleground states like Michigan, Pennsylvania, and Ohio. Let’s anticipate that the number of cases will continue to accelerate and distract from the U.S. election over the week ahead. Today’s Top Stock Tickers UBER, LYFT: Shares of Uber and Lyft are surging this morning. LYFT added 14.5%, while UBER gained 10% after the company reportedly won a major labor dispute in California. Voters in the state appear to have passed Proposition 22. The ballot measure would exempt drivers from app-based delivery and transportation firms from being classified as full-time employees. This will prevent the two firms from having to reclassify these drivers, provide a wide range of benefits, and then likely pass on the higher costs to consumers. Uber had said that if the ballot measure went against the firm, it would likely have to consider raising prices by 25% to 111%. MY WEDNESDAY STOCK WATCH LIST WRAP: I currently own Digital Ally (DGLY) in my Family Portfolio. The company makes body cameras for police officers and other safety equipment. Wrap Technologies is a company that makes non-lethal products that can restrain a suspect. Shares popped 10% yesterday. While everyone probably thinks this is only tied to the election, I’ll raise you one. A 10% owner called Cohen Scot bought $100,000 in shares. That’s my magic number. I’ll explain more today. A move back to $10 says Northland Securities. From there, it’s overvalued, and maybe ride it back down to $7.50. PRMW: Let’s have a nice glass of water and hydrate. Primo Water has about 35% upside according to Wall Street. They call their products something fancy like “hydration solutions.” Look, it’s water. Undervalued water. We are gonna need a lot of it. OTHERS TICKERS TO WATCH: GCI, INSP, BBGI, APVO, IEA, RIDE Enjoy your day, Jeff Bishop RagingBull, LLC 62 Calef Hwy. #233, Lee, NH 03861 [Click Here to stop receiving emails from support@ragingbull.com]( [Unsubscribe from all RagingBull emails]( DISCLAIMER: To more fully understand any Ragingbull.com, LLC ("RagingBull") subscription, website, application or other service ("Services"), please review our full disclaimer located at [(. FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. AnyRagingBull Service offered is for educational and informational purposes only and should NOT beconstrued as a securities-related offer or solicitation, or be relied upon as personalizedinvestment advice. RagingBull strongly recommends you consult a licensed or registered professional before making any investment decision. RESULTS PRESENTED NOT TYPICAL OR VERIFIED. 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