Hard Work Always Wins!
College football is back!
My alma mater Michigan State is set to play University of Michigan in a Saturday night Halloween matchup – and I couldn’t be more excited.
Due to the pandemic, my season tickets are null and void in 2020. No tailgating for me. The plan instead is to enjoy the day at my State of Michigan house with my State of Michigan family and friends that show the true STATE of Michigan work ethic day in and day out.
MSU has won eight of the last twelve grudge matches but is a three-touchdown underdog this time around. But we’ve seen plenty of success recently. In the last decade, State has won multiple Big Ten Championships, a Rose Bowl, and made the National Championship Playoff.
Yes, UM has a large win differential overall, including games in the 1800’s before the forward pass or helmets (not to mention the first 50 games were played nearly exclusively on their home turf). But the head-to-head record is almost even since State entered the Big Ten.
But the University of Michigan is a brand that people buy into because of the uniforms and marketing. The hype is far removed from the past performance during the last two decades… and I won’t even get into basketball and the greatness of fellow yooper Tom Izzo.
The fact is, Michigan State is filled with mostly in-state residents from all backgrounds and economic means. I fit in well with my mining town upbringing — except for my somewhat Canadian accent since I grew up above the bridge, eh!
Sure, we tend to overcompensate sometimes since Big Blue gets most of the attention. But it drives us to work harder and take nothing for granted. Plus, I look good in green…
My success story stands second to none in my mind. I wouldn’t have it any other way! Trading the markets to live life on my terms is a dream that has become reality.
Hopefully, this explains the chip on my shoulder. Maybe I just have a healthy obsession to prove the power of those of us who have been underestimated in the past. But as always, hard work pays off!
Keep it In the Money,
Chart of the Day: Election jitters
The major averages finally started to slip Monday morning, but the financial media wasn’t sure why.
First, the talking heads blamed rising Covid cases across the country. As stocks continued to plummet into the afternoon, they then told us it was because congress failed to pass any stimulus measures before the election season recess.
Oh, and then there’s the election. Now we’re supposed to believe that investors are finally starting to panic over the possibility that we won’t have a winner announced Wednesday morning.
Of course, these are only guesses. What we do know for sure is the market’s starting to get a little choppy as Octobers comes to an end an a hotly contested election looms large. Anything other than these facts is pure speculation.
Of course, we should still prepare for choppy action heading into early November.
Here’s where the Nasdaq Composite stands as of Tuesday morning:
Since the beginning of September, we’ve seen a 12% drop, followed by a quick 12% rally off the lows, which was then followed by a retreat of almost 5% from the October highs. Not exactly smooth market action…
Sometimes, the best trade is no trade at all. With the market in flux, you’ll want to remain selective in picking up any new plays over the next week.
— Greg Guenthner