Election Watchlist:

by | Oct 27, 2024

Hey traders, it’s Matt here.

There are only 6 trading days until we reach November 5 … The day of the U.S. election.

  • We’ve already seen at least one assassination attempt.
  • The current President withdrew himself from the race to endorse the Vice President.
  • Americans have been struggling with inflation for months.
  • There’s a pronounced southern border issue.
  • There are two conflicts overseas that the U.S. is somewhat involved in.

All it takes is a few minutes on social media to tell just how heated this race is getting. 

Now … I’m not here to talk about politics.

But the political race is acting as a catalyst for stock market volatility.

And as we approach November 5, one day at a time, this volatility is likely to grow. We’ll also see volatility directly after the election.

Ladies and gentlemen, things are about to get crazy for key election-related stocks … As if 2024 wasn’t crazy enough already.

Here’s my watchlist this week:

4 Election Stocks

The #1 election trade that I’m watching right now … it actually won’t take place until after November 5.

Which means you’ve got time to prepare. Reserve your spot to learn this setup on October 30!

The watchlist in this blog is for stocks that could show us profit opportunities as we approach election day.

The two most obvious stocks that I’m following this week are closely linked to Donald Trump.

  • Trump Media & Technology Group Corp. (NASDAQ: DJT) represents Trump’s social media company, Truth Social.
  • Phunware Inc. (NASDAQ: PHUN) assisted Trump in his former campaign and has a history of spiking with relation to Trump.

Both stocks are showing us impressive volatility right now.

And in the days before AND after the election I expect to see even more volatility. Which translates to larger profit opportunities!

Here are two charts of DJT. On the left, each candle represents one trading day. On the right, each candle represents one minute:

DJT chart Source: StocksToTrade

The spike earlier this year skews the most recent move a little bit. Despite how it looks, in October DJT rallied 160%*!

Similarly, the spike from PHUN earlier this year skews the recent spike in October.

This month, PHUN ran 350%*! Take a look at the chart below:

PHUN chart Source: StocksToTrade

If DJT and PHUN are the ‘Trump stocks’.

Then these are the ‘Harris stocks’ that I’m watching:

Solar Volatility

A lot of people associate the democratic party with green-energy efforts.

And we certainly saw that manifest in the market as Harris gained in the polls against Trump.

  • Renesola Ltd. (NYSE: SOL) spiked 90% since Harris appeared as the Democratic candidate at the DNC, which began on August 19 and went until August 22.
  • Gevo Inc (NASDAQ: GEVO) spiked 390%* since September 11, a day after the debate between Harris and Trump.

Take a look at the charts below.

Here’s SOL:

SOL chart Source: StocksToTrade

Here’s GEVO:

GEVO chart Source: StocksToTrade

There WILL be opportunities to profit this week from election-related volatility.

Keep these stocks on your watchlist and set alerts in StocksToTrade to ensure that you’re ready for key movements across support and resistance.

Keep your head on straight!

While the rest of the country is distracted by election memes on social media, we’ll be banking on hot runners!

Cheers,

Matt Monaco

 

*Past performance does not indicate future results