General Stock Ideas

[bigworld]

Some nasty carnage in the markets today. Everything seemingly took a hit, especially the Nasdaq. Gold and silver were down modestly. If I was holding general equities I would really strongly consider selling all of them if we get a rebound here at some point. Because it is looking more and more like we are going to get an election settled in 50 different State Supreme Courts. The battle over mail in ballots is going to be ugly. So all the while that goes on the markets are going to be under tremendous downside pressure. And then no matter which side wins the court battles and is awarded the election the other side is going to protest and/or riot. According to the Constitution each state must finish the election counting and certification by December 15th I believe. So that means 6 weeks of lawsuits, media battles, Democrat whining about disenfranchisement and racism (the usual libtard playbook). The markets hate uncertainty. So that will be at least 6 weeks of market weakness. Then if Biden is declared the winner there will be a rush to sell equities prior to December 31st in order to lock in the old capital gains tax rates. Because Biden has said they will raise capital gains tax rates. So for all these reasons I'd be a seller of general equities if we get a snap back rally after this episode of selling runs out of gas. Especially in non tax deferred accounts. Who knows how high the Democrats would try to raise capital gains taxes next year if they win.