Trading Strategies to Combat Financial Sector Woes

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Midas Letter

The Digital Businesss Channel for Cannabis, Crypto and Technology Stocks.

Midas Letter is provided as a source of information only, and is in no way to be construed as investment advice. James West, the author and publisher of the Midas Letter, is not authorized to provide investor advice, and provides this information only to readers who are interested in knowing what he is investing in and how he reaches such decisions.

Investing in emerging public companies involves a high degree of risk and investors in such companies could lose all their money. Always consult a duly accredited investment professional in your jurisdiction prior to making any investment decision.

Midas Letter occasionally accepts fees for advertising and sponsorship from public companies featured on this site. James West and/or Midas Letter may also receive compensation from companies affiliated with companies featured on this site. James West and/or Midas Letter also invests in companies on this site and so readers should view all information on this site as biased.

Future of Wealth Head Trader Lance Ippolito joined Midas Letter to discuss the “do’s” and “do not’s” for traders in today’s current economic climate.

Even with the volatile nature in the stock market since the onset of the COVID-19 crisis, internet software companies inside the technology sector have experienced 52-week highs. The e-commerce titan Amazon (NASDAQ:AMZN) hit 2,313.88 today, a new all-time high, and is up 22% on the year. This is in stark contrast to the rest of the market as the S&P 500 has declined 13% in the same time horizon. JD.com (NASDAQ:JD), the e-commerce company and retail infrastructure service provider in the People’s Republic of China, also hit a new 52-week high.

Although there are companies achieving success in the market, particularly in e-commerce, the Head Trader does not necessarily believe, in general, there are signs of the economic weakening stemming from the Coronavirus pandemic.

The financial sector has been under amounting pressure this week from weak earning reports and poor outlooks as banks are setting aside funds to deal with expected loan losses. The bleak outlook in the stock market has seen investors seek safety by not investing. People are feeling the need to hold onto their cash. Cash levels in the US have spiked to 5.9% – which is the the highest level seen since 9/11.

Watch the entire interview to see what Lance is trading and how to make money as these key economic themes unravel.

Midas Letter is provided as a source of information only, and is in no way to be construed as investment advice. James West, the author and publisher of the Midas Letter, is not authorized to provide investor advice, and provides this information only to readers who are interested in knowing what he is investing in and how he reaches such decisions.

Investing in emerging public companies involves a high degree of risk and investors in such companies could lose all their money. Always consult a duly accredited investment professional in your jurisdiction prior to making any investment decision.

Midas Letter occasionally accepts fees for advertising and sponsorship from public companies featured on this site. James West and/or Midas Letter may also receive compensation from companies affiliated with companies featured on this site. James West and/or Midas Letter also invests in companies on this site and so readers should view all information on this site as biased.