Don’t Sweat the Election
You may be concerned about the stock market now that Barack Obama has won the election. Some people believe that Republicans are better for Wall Street than Democrats are. But history shows that the market has actually performed better under Democrat presidents.
As bad as things have been, I expect the economy to bounce back in the second half of 2009 – and not because of the outcome of the election. Sure, there are certain sectors that will benefit from Obama’s victory (biotechnology and alternative energy in particular). But the overall market is primed for a short-term rally. I say short-term, because there is a lot of resistance for the market to take out before the bear market can be declared dead.
The budget deficit, the ailing job market, and a broken financial system are going to be tough to overcome. The new president and Congress will have their work cut out for them.
[Ed. Note: No matter what the market does in the coming months, you can still find opportunities to profit. Market analyst Rick Pendergraft has developed an easy-to-use trading program that delivers very nice gains at steady intervals – close to once a week. It helps you use the market’s fluctuations to your advantage, so that the economy doesn’t affect your earnings one bit.]Rick Pendergraft
Inspired by his high school economics teacher, Rick Pendergraft fell in love with the markets at an early age. He entered his first investing competition at 17, and opened his first brokerage account before he finished college. At the age of 23, on the third options trade he had ever placed, Rick turned $1,800 into $22,000 in less than a week, when the company he bought became the target of a takeover. He admits it was a stroke of luck, but it was a memorable education as to the leverage that options can provide. After a ten year career in banking, Rick decided to pursue trading full-time. To get his foot in the door, he started out in the sales department at Schaeffer's Investment Research. It was not long before his talent was recognized and he was invited to apprentice under Bernie Schaeffer, one of the top options traders in the world. Rick thrived in his new position and twice received the award for "Top Trader."Rick has developed a loyal following of readers who are grateful for his timely warnings and profitable advice. He is widely recognized as a market expert and has been frequently quoted by Reuters, BusinessWeek, Forbes, USA Today, the New York Times, and the Washington Post. Rick's primary focus is on identifying short and intermediate term rising and falling trends in the major market sectors. His analysis is based on technical factors along with indicators of market sentimentRick lives near Delray Beach, FL with his wife and three children.