BY ANDREW GIOVINAZZI
October 25, 2024
Yo Pit Crazies,
Our contention is that an election can be a special situation. Recently a rather large South American country, Argentina, elected a populist conservative named Javier Milei. See below.
You have not heard much about him lately in the press here in the USA. He took a hatchet to spending in Argentina and everyone in the press predicted disaster. I think that is why we don’t hear a lot about it anymore.
What is this mystery stock that trades in Argentina?
Let’s check it out.
The stock is Sociedad Anonima (Ticker: YPF). It is a very big oil producer in Argentina and usually the most investable security unless you want to mess around with Argentina sovereign debt. In a year when oil prices are up 10%, YPF has doubled. Better government helping Argentina stocks? Quite possibly so the elections can matter. A 100% gain is worth paying attention to since big changes can lead to big profits.
In the USA, the Fed and massive government borrowing has helped prop up stocks. We do have an election and at this point we just need to get past it. Argentina after decades of going backward is moving forward. It can happen!
We do have interesting opportunities around the US Elections. Check out how we are going to handle it.
To Your Trading Success,
AG
Andrew Giovinazzi
30-Year Trading Pro
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