November 2, 2024
Get Ready for Volatility Spike No. 3
Dear Subscriber,
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| By Jim Nelson |
I warned that this week was going to see some wild price action. And it did.
Many companies that make up Big Tech and the Magnificent Seven have already reported their earnings. And the market took some shocks. But it continues to hold.
Thursday was the wildest, with the S&P 500 falling nearly 2%.
Then, yesterday, stocks began to rebound.
This price action is something, I’m afraid, we’ll all just have to get used to for the rest of the quarter and likely into 2025.
Anyone who thinks the election on Tuesday will stop the volatility is overly optimistic.
Just look at what the CBOE Volatility Index, or VIX, has done all year:
You can see the increase in April as the market took some profits. That’s the first spike.
Then, there’s the massive spike in August, which likely caused the Fed to cut 50 basis points off the Fed Funds Rate a month later.
But really look at what has happened since.
Slowly, methodically, the VIX has risen from 12 to over 20 — the historical average.
And if we know anything from the last election cycle, this one will likely take some time to play out.
We also know that the stock market really does not like to wait.
The third major volatility spike of the year could come as soon as Wednesday, depending on what happens the night before.
So, to help prepare you for ever-increasing volatility and choppy price action, your experts have been digging into the Weiss Ratings to find some salvation.
Here’s what they are seeing …
How to Outperform This Charging Bull
Gavin Magor opens up Weiss Ratings a bit wider. He shows you how to find the absolute highest-rated stocks AND cryptocurrencies. After all, the crypto market is seeing even more wild price action than stocks are ahead of the election.
AI is Dead in the Water Without This Resource
Karen Riccio takes a look at the root of this week’s large market moves, the companies involved in AI. She digs into the resources they all need that — if they can’t get enough —would kill AI.
China’s Red Flag on Gold!
While the market was taking a breather this week, another on-fire asset was charging right ahead: Gold. Sean Brodrick has been on the case for a while. But now, he has proof of why China is going to keep pushing prices to new all-time highs.
This Won’t Change on Nov. 6
You don’t have to look too hard to find the differences between a potential Harris administration and a second Trump one. But Nilus Mattive dives into what won’t change during this election. And he has two ways to protect your wealth.
This Space Laser Leader Just Beat the S&P by 4x
Of course, as we like to do here at Weiss Ratings Daily, we end each week by looking ahead. Often, that means looking up, too. Michael Robinson has a blue chip that is dominating a field that was recently science fiction … but is now a $1.4 billion industry.
That’s it for this week. Have a great weekend!
Jim Nelson
Managing Editor, Weiss Ratings Daily
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