As most of you know, political statistics have been a major part of my life over the past few weeks. How couldn’t they be considering how much they’ve been rammed down our throats this election cycle.
But Joy of the Trade’s Jeff Zananiri and I want to talk a little about how the Coronavirus has impacted our world.
Will this lead to some political topics, more than likely. However, this is not the main focus of this video! (For better or worse.) Today, let’s focus on how to protect our profits during this never ending pandemic.
Take These Steps to Protect Your Profits During the Pandemic
The recent pandemic has impacted every aspect of our lives. There is not a doubt in my mind that 2020 will be remembered as the year of coronavirus.
I know a lot of people have the expectation that after — sorry just one mention — the 2020 election everything will automatically go back to normal, but I don’t see that happening. There isn’t a light switch that we can turn on and off to make things go back to normal. Even if the vaccine came out tomorrow, it would still take some time for things to return to our definition of normalcy.
So the question for traders and investors is how should we be reacting to the idea of another several months (minimum) of coronavirus being part of our lives? And how can we work to protect our profits during the pandemic?
The answer? Stay away from stocks that are sensitive to potential shutdowns. In this chaotic market, if you’re thinking about investing in a long shot, you can’t be surprised when it doesn’t work out in your favor.
The truth is, even though everyone is jumping aboard the tech bandwagon, it really is the best bet for your money right now. Stay-at-home stocks are also safe candidates for high flyers right now. Both groups will more than likely continue to see revenues that impress investors for the foreseeable future.
In the video below, Joy of the Trade’s Jeff Zananiri and I dive into this topic and explain exactly what we foresee in this market and what steps you can take to protect your profits during the pandemic and against so much uncertainty.
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