This week, the US election and the Federal Reserve interest rate meeting will cause volatility in the markets, leading to potential violent price swings. Hedge funds are betting on greater price fluctuations, and large speculators have turned net long in VIX futures for the first time since January 2019.
Wall Street veterans are advising to keep cash on hand to take advantage of opportunities in the market when the election results are known. Some are even increasing their cash holdings.
