Markets Love a Peaceful Transition

Welcome to the Rude Awakening for Tuesday, November 24th.

Looking at a relatively strong market open this morning, as the market continues flirting with these all time highs we had just recently…

Of course, the big news today pushing the markets up is…

The Peaceful Transfer of Power

The Trump administration is not giving up the goat yet, but they have said they will finally allow Biden’s administration to move forward in a “peaceful transition of power.”

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As we know, markets love decisions, and they love peacetime. So, seeing things move forward for a Biden presidency, a likely still Republican Senate, leading to a gridlocked government… the markets are going up.

With that said, here are the stocks to watch today…

4 New Watchlist Picks

First up, Fuel Tech, Inc. (FTEK), which is a rarity for us as it’s a microcap stock.

FTEK is absolutely exploding this morning, from yesterday’s close of $2.82 and popping in today’s open at over $6.

Next up, we have one of the big cannabis stocks, Aurora Cannabis Inc. (ACB).

ACB is having an interesting trading session already this morning, currently up over 22% on the day.

This is a stock that does move, but since June it’s been in a decidedly down trend. Today, it looks like that’s changing.

Tempur Sealy International, Inc. (TPX) is on our watchlist, too, and this one is flashing a sell signal. It’s been pushing up steadily since its massive drop upon the pandemic, but now reaching its previous highs, we’re seeing it dropping down a bit.

This could make for some bearish plays.

And last but not least, Tesla, Inc. (TSLA) is absolutely exploding to the upside right now.

TSLA is now a 500 billion market cap. Back in January, that number was 100 billion. Its risen in value fivefold in the past year alone, and with its addition to the S&P 500 Dec 21st things are still looking very bullish.

We are looking for a pullback in TSLA for a buy, but beware that its addition to the S&P is going to create a new rush of buying as all the ETFs and index funds will be forced to jump in and buy TSLA…

That’s it for today, folks.

Have a great, safe trading day, and a fantastic Thanksgiving holiday.

We’ll talk next week.

Regards,

Scott Stewart

Scott Stewart
Editor, Rude Awakening

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