Technically Speaking: BioScrip Inc (BIOS), Hertz Global Holdings, Inc (HTZ) And CVS Health Corp (CVS)

Macro Conditions

Investors need to be cautious of the macro conditions surrounding , not only the markets, but around the world. With the U.S. presidential election decided, investors will next focus on any and all scenarios that could provide uncertainty for the markets moving forward. As it stands right now, the market does not want to see a Trump victory, with the futures plunging in excess of 750 points as of 10:30pm est. Whether or not you are a Trump supporter, the market reaction, both here and abroad, shows the disconnect between the citizens of the U.S. and the money centers. With investors not being able to distinguish political rhetoric from reality, the path of least resistance is to run first and ask questions later. However, this is the kind of market that plays well to technical trading, as investors don’t necessarily need to pay as much attention to stock price as they do to technical indicators.

With that said, though, investors should be cautious and take a moment to gauge the results of this election and the short term impact that it may play on the market averages.

As for BIOS, HTZ and CVS, let the markets open and gauge the sentiment. If the market trades lower on election results, these three stocks will likely follow the trend and the technical indicators will stay in tact to execute the trade once the market catches its breath. Remember, if a trade does not hit the parameters established, don’t execute the trade. There will be plenty of opportunities in this market, a market set to be extremely volatile in the days and months ahead.

Despite who wins the election, the market may react irrationally in the next few days. No investor ever went broke taking a profit and no investor ever went broke by sitting on the sidelines for a short period of time, either.

This is a market that should offer investors an opportunity to perform well by taking small bites, one at a time. Greed is good in the movies, but, greed has made more people poor than rich. Tread carefully.

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Note: This article was written by Joshua Rodriguez, owner and founder of CNA Finance. If you would like to connect with Joshua, you can do so by emailing him at CNAFinanceHelp@gmail.com!