Only three presidents have been impeached in the history of the country. With only two other trials to look at, including one in 1868, the uncertainty about what impeachment means for the stock market is high.
Fortunately, the experts at Money Morning are here to help guide you. Money Morning Chief Investment Strategist Keith-Fitzgerald says now is the time to focus on protecting your profits and capital.
Markets might be choppy during the trial. Wall Street doesn't like uncertainty either. But that's all the more reason to stick to your principles.
If a stock hits your trailing stop, then it's no time to take an unnecessary risk by holding it for longer. Same thing for a stock that soars to your profit target. Take your gains and avoid the temptation to ride it higher.
Sticking to your investing strategy is the best way to keep your money safe right now.
Once the dust settles, we expect to see stocks continue their upward trend.
But if the trial takes a turn and President Trump is removed from office, which seems unlikely at this point, you need to be prepared for that, too...
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Keith says traders are likely to sell aggressively if the impeachment trial moves from political posturing into real transgressions that could remove Trump from office.
That could mean short-term turmoil in the stock market.
But the most important consideration if President Trump is removed from office is what a President Mike Pence administration will look like.
Wall Street traders are already focused on what a Pence administration would change for the economy and whether he would continue to oversee the growth we've been enjoying.
We wouldn't expect a dramatic change if Pence took over, but the shake-up could still induce a sell-off. That's especially true when you consider it would completely change the 2020 election landscape.
Even if the president were removed from office, he would still be eligible to run in 2020, but Republicans might scramble to find a new candidate. But again, this scenario is highly unlikely.
We can't be certain about what happens next in any case, but we do know there will be opportunities to make money here.
We'll be revealing more information about this later, so stay tuned.
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