“We are not positioning for an outcome in the election because it is a coin flip,” Eric Diton, president and managing director of the Wealth Alliance, said in an interview. “It does not make sense to make a bet.”
“Polls have been so wrong in the past,” said Dave Lutz, equity sales trader and macro strategist at JonesTrading. “There is just no edge to see who is winning.”
Most traders see volatility coming this week, possibly lots of it with the strong likelihood of a disputed result dragging the vote count out for weeks or even months. This explains why the Cboe Volatility Index climbed above 20 in its last four sessions, a level that typically signals rising stock market stress.
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