This Week's Stock Ideas

Monday, November 4, 2024

Good morning everyone, and congrats to all who caught the RDDT trade with us! It was a beautiful setup from start to finish. We would also like to welcome everyone who joined over the weekend and remind you to comment or ask questions below.

Last week, U.S. equity markets were off to a muted start until Thursday, when everything slid. We have been expecting this volatility for a few weeks now, so we were not caught off guard, but it wasn’t driven so much by elections as it was by mixed earnings and economic data. With Presidential elections taking place this week, we expect more volatility ahead. A few things to note, though… for starters, markets sold off pretty hard Thursday and closed on the lows but held at our support level, and while Friday was off to a better start, sellers came back in and pushed stocks back towards the day's lows. We should anticipate a bounce as long as the bulls can hold these levels. Let’s see how the week unfolds!

Check out this week’s trade ideas.

Last week’s sector performance