Traders Brace For Market Volatility Amid US Election And Fed Meeting

According to BlockBeats, significant events this week, including the US election and the Federal Reserve meeting, are expected to cause market volatility. Most traders anticipate substantial fluctuations, as the election results may be contested, potentially delaying the vote count for weeks or even months. Hedge funds are betting on increased price swings. Data compiled earlier this month by the Commodity Futures Trading Commission (CFTC) shows that large speculators have turned net long on VIX futures for the first time since January 2019. Several seasoned Wall Street traders are advocating for holding cash. Robert Schein, Chief Investment Officer at Blanke Schein Wealth Management, has increased his cash equivalents from the usual 5% to 10%. His strategy is to be ready to purchase assets when inevitable market volatility occurs. Eric Diton, President and Managing Director of Wealth Alliance, stated in an interview, 'We are not positioning for the election outcome because it is akin to flipping a coin. It makes no sense to bet on it.'