Look, when US Navy Seals killed Osama Bin Laden futures immediately…popped.
You might recall this happened on a Monday after the market had closed…in the middle of a bear market (May of 2011 we were in the middle of a pretty rough patch).
While the initial reaction of many retail traders was “Do you think we could go limit up!’ Futures eventually faded…
..As I was expecting them to.
Because it was a ‘one off event’ that really did not have a true positive impact on the market.
I am telling you this story because we witness pretty much the opposite on Friday the 2nd of October.
News that President Trump had Covid-19 caused markets to TANK on Friday’s open.
However, the tanking soon faded…
This is because the headline was just that….
The truth is a normal person would have a 95-99% chance of being totally FINE, even with DJT’s questionable health habits (He might like Big Macs more than Bill Clinton).
However, this is the POTUS. His medical team is the best in the world, and able to use the most aggressive tactics in the world.
On Friday’s morning I personally had the president’s survival odds close to 100%….
…so did most professional traders.
This is why the Giant sell off faded.
This is also why Monday, as the President appears to be moving that recovery needle even closer to 100%, markets are going to be strong.
Your Only Option,
P.S. – Watch out for market strength this week 🙂