Daily Alert – Wednesday 30th September 2020: Horror show Presidential Debate hits equities
As is so often the case, Monday’s indecisive risk tone crystallised into something more definite at the start of the US session – markets became moderately risk-on. This tempted me into three trades: GOLD long, AUDJPY long and Japan225 long. Performance across the three trades is mixed with the Japan225 losing, GOLD locked in a breakeven as a minimum and AUDJPY set to make at least two times risk. So, overall, it will be a profitable end to the month.
Tuesday was indecisive in the run up to the Presidential debate. I stayed up until 3-30am to watch it live. It was shockingly bad and, in the end, quite depressing. Equities fell during the debate as Trump said that it may take many months to complete the vote count due to the high numbers of mail-in ballots this time around.
Today we are back to moderately risk-on and equities are recovering. We are at month end so I think I will simply manage my two remaining trades over the course of the week.
I’ll be back on Friday with a review of the week, brief videos of closed trades and your Performance Report for September and year-to-date.
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