How to Trade Like Guy Cohen After the Uncertainty of the UK Elections, Nasdaq/Tech Drama

Friday was definitely considered a big news day with the result of the UK elections and Nasdaq/Tech drama. The UK election did indeed spring a surprise, with Conservatives holding on, but it turned out to be only by a whisker, and Sterling plunged as a result.

The Proper Way of Handling Stocks After the UK Elections by Guy Cohen

The only certainty in the UK right now is that there will be more uncertainty in the short term, but that will also lead to opportunities … it always does.

And what about the Nasdaq and Tech stocks? This was not an overnight gap down, but a concerted surgical profit taking move that took the market by surprise. In such a case largely profitable positions would have been exited, which is fine. The markets don't provide guarantees, and Guy Cohen always prefers adverse behaviour to occur during trading hours rather than overnight gapping.

[evp_embed_video url=”http://zoxcapitalist.wpengine.com/wp-content/uploads/2017/06/otcall20170611.mp4″]

The banking stocks were among the beneficiaries of the tech slump, with BAC, GS and JPM all defying their head and shoulders setups for now.

Find out Guy Cohen's take on how the markets will react to UK Elections and Comey Hearings right here.

Follow us on Facebook and Twitter for more news updates!

The statements, views, and opinions of any article, contribution, editorial, or advertisement in this publication are not necessarily those of The Capitalist or its editorial staff, and are not considered an endorsement, sponsorship, or recommendation of any referenced product, service, issuer, or groups of issuers.

This publication provides general information about certain subjects, and should not be construed or taken as advice (legal, financial, investment, tax, or otherwise). Do not construe or take any information in this publication as a solicitation, offer, opinion, or recommendation to buy or sell any securities, bonds, or other financial instruments or to provide any legal, financial, investment, tax, or other advice or service about the suitability or profitability of any financial instruments or investments.

The Capitalist disclaims any liability for the accuracy of or your reliance on any statements, views, opinions, or information in this publication.

Featured image via Visual Hunt