Well that selloff in the Nasdaq yesterday was wild! The Russell 2000 jumped and it seemed like a 1000pt day in the Dow was coming before everything cooled off. A classic overreaction on news. The blue wave happened and the dems have complete power and as expected, this will be good for some sectors and bad for others. But not horrible for tech stocks, like was the reaction yesterday.
More stimulus from the dems will likely lead to a stronger economic recovery. Will this lead to higher interest rates, higher corporate taxes and other consequences from printing money? Probably, but only time will tell.
For now, the trade momentum is in small caps, banks, cannabis, electric vehicles/batteries and renewable energy.
Let's get trading!