Watch list stocks to trade
The futures are rocking tonight. Le Pen and that left wing nut didn’t take first and second, so the futures are liking the notion a centrist is likely to win the second round (Macron), as if this is some kind of bracketology, a la March Madness. Nonetheless, I booked some profits in my long positions on Friday with UPRO and BA. Yeah, it would be nice to have held on to these positions over the weekend, but c’mon, I’m not a french political expert and neither are you, and had the elections turned out differently , we’d be looking at a 200 point gap down. Fortunately, the market got the best case scenario. Le Pen, won’t win the next round, final round, second, round or Mortal Kombat “FINISH HER” round so, the market likes what it sees, and now it is rallying like the monster it wished it had been these past two months.
Just remember the Sunday market gap ups are often faded, so just because it looks like a sure thing we rally tomorrow, it isn’t necessarily so. Watch the gap and make sure the bulls are intent on holding their ground and not fading the open.
Long R.R. Donnelley (RRD)
Long Masco (MAS)
Short Arthur Gallagher (AJG)
