My Market Forecast: More Gains!

The market is getting choppy once again following last week’s massive post-election rally.

But we’re ready for anything…

My strategy – as always – is to position for success. You know I’ve been bullish I don’t think any of the news related to the election or a potential coronavirus vaccine changes anything. This market is setting up for gains.

Check out my latest appearance on TD Ameritrade Network where I talk about where I see the market heading as the holidays approach, how I always sell into strength to book consistent gains, and my next hot trade…

Remember, Optimism always wins!

Keep it In the Money,

Alan Knuckman

Alan Knuckman
Editor, In-The-Money

Chart of the Day: Does the Nasdaq need a break?

Greg Guenthner

Looks like we have another crazy week ahead of us…

Following the huge post-election rally, Pfizer and BioNTech announced their joint COVID-19 vaccine is more than 90% effective, sending stocks soaring Monday morning.

Obviously, there are plenty of details to work out. But the vaccine news ripped through the markets. We saw “reopen” names jump higher while “stay-at-home” stocks were clobbered. The popular big tech names lost their footing, and the Nasdaq drifted lower. Not only did it underperform most of the day — it also fell off a cliff at the close as skittish investors took profits on the 2020 tech darlings. Many of these stocks posted double-digit losses.

It was more of the same on Tuesday, as the Dow and S&P continued to outperform the tech-heavy Nasdaq.

As of Tuesday afternoon, the Nasdaq was looking like it wants to try and fill the those post-election gaps after failing at 12,000:


However, I don’t think it’s time to get too bearish on the Nasdaq just yet. Remember, many of these stocks have ripped off triple-digit rallies since the market bottomed in March. They deserve the benefit of the doubt – even during this hard reset.

I also don’t trust a lot of these moves in “reopen” stocks. It’s possible that reality will come back to hit some of these beaten-down names hard once this euphoria wears off…

— Greg Guenthner

You May Also Be Interested In:

Alan Knuckman

Alan hails from the home of options trading in Chicago, where he began working as a clerk on the floor of the Chicago Board of Trade (CBOT). Beginning with his days on the floor, Alan’s worked with all aspects of the options markets for the past 25+ years.

Transitioning from a clerk to a floor...

View More By Alan Knuckman