Hubert Senters here.
Got a question from Jamuna.
What are your thoughts on BAC? Will it keep following the present downtrend until after elections are over or is there any chance it may shoot up before elections?
So if you guys are thinking that I’m making this stuff up when I say I’m dyslexic, I am really dyslexic. What I do is I go into Google and I go how do you pronounce this.
Let’s take a look at Bank of America. On Bank of America, I’m just giving you my opinion. I have no idea where you’re at on it. It’s been kind of crappy investment since mid April. It’s been sideways. You have the ADX. It just stand below $20. Every now and then it’s getting above it so I would just leave it alone until after the election.
After the election regardless of who you’re voting for. If you’re voting for Trump or if you’re voting for Biden. It doesn’t really matter to me. I’m going to vote who I’m going to vote. You’re going to go who you’re going to vote for. And then at that point the fear that the change of the government officials will be out of the market.
And the markets will either go straight up or straight down. But usually they’ll probably go up a little bit more because then the uncertainty of changing of the guard or same guard staying either be out of the way. I would wait for the ADX to get above $20.
That will tell you the thing is trending. And then I would start messing with. So the ADX right now is at $16.09. It needs to be above $20. Right now, it’s below the cloud. I would say it’s going to trend lower but that can change as soon as obviously it starts trending or the elections are over.
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Good luck. Hope it helps. See you on the next video.
Hubert.
