Market Volatility has started to appear in the past couple of weeks, and I think it will be here to stay for at least the next few months as buyers and sellers try to navigate the choppy waters as we currently sit just 50 days until the presidential election.

Disney pulled back on light volume last week. Disney remains well positioned to trade higher as the economy begins to open back up over the next 6-12 months in a post-covid world. Movie theaters are beginning to open back up at limited capacity and sports are back in action with the NFL back this weekend for ESPN, which will all contribute to Disney's future prospects. The best trade recommendation I can make to anyone is to buy Disney, even at these prices, and to hold it until the world gets back to normal over the next 1-3 years. Disney+ will rival NFLX when covid ends, and they'll have their parks and movie brands, along with ESPN as well.

Last year, Disney had 7 different movies that all grossed over $1 billion at the box office. NFLX has nothing like that type of business model. Disney had the top 5 grossing films at the box office of 2019, and played a hand in the 6th. Disney banked about $13 billion from box offices in 2019 alone. This will all come back post-covid, and they'll still have 100+ million subscribers to go along with a box office revenue that NFLX can only dream of right now. In 2019, Disney dominated American movie going more than any studio ever has before — roughly 38% of all domestic movie going.

Uber has a similar dynamic to Disney, in that a portion of their business is accelerating a time when their core business model has suffered from the pandemic shut down. Uber Eats is accelerating and has changed the way we order food delivery for ever. On the flip side, business travel will never be the same again. What will be the same again, is that eventually normal life will return and the social interactions that drive Uber's ride hailing business will return. Uber traded higher with strength this week, accelerating above the $35 ceiling it's been trading in since late June. The next stop is the high from June of $38.78.

STZ continues to trade higher with strength. Constellation's strong portfolio of beer and wine continues to perform well, and the chart is well positioned to trade higher. Their investment in CGC could also prove worthy in the years ahead, which I expand on below.

Canopy could see some volatility as the election approaches with cannabis on the ballot in many states, and a potential federal vote planned to eliminate marijuana as a schedule I drug.

Democrats are planning a vote on "The MORE Act", which would remove the penalties for marijuana, erase some criminal records and create grant programs for people hit especially hard by the war on drugs. Marijuana currently remains a schedule I drug as part of the Controlled Substances Act. Schedule II drugs like cocaine and methamphetamines are deemed to have medical use, but high potential for abuse. Even if Democrats pass The More Act in the house, there is almost zero chance Republicans will bring up the bill in the Senate, but just the idea of progress could provide a lift to the cannabis sector.

On the state level, almost 1 in 3 Americans could have access to legal recreational marijuana if voters approve state ballot initiatives in November. As it stands now, 33 states have legalized medical cannabis, and of those, 11 states have legalized cannabis for adult recreational use.

The biggest stakes are in New Jersey and Arizona, where polls suggest voters will pass recreational sales.

If both measures pass, more than 16 million additional Americans would be living in states where anyone at least 21 years old can buy weed for any reason. That would mean more than 100 million Americans would have access to legal recreational marijuana sales, and this is less than 10 years after Colorado and Washington began modern legalization.

Lennar (LEN) earnings after the bell tonight: market pricing in a $4.82 move as of now.

Cracker Barrel (CBRL) earnings before the open Tuesday: market pricing in $11.18 move as of now.

Adobe (ADBE) after the bell Tuesday: market pricing in a $33.45 as of now.

FedEx (FDX) after the bell Tuesday: market pricing in a $21.82 move as of now.

Apple product event Tuesday: market pricing in a $4.77 move as of now.

Herman Miller (MLHR) earnings Wednesday after the close: market pricing in a $3.04 move as of now.

Stay tuned for updates this week!

Options Trades:
GME $8-$9 credit spread expired Friday for a profit of $0.25 or 33.33%
WORK $32.50-$34.00 credit spread expired Friday for a profit of $0.34 or 29.31%.

Short Term portfolio:
Long CGC at $16.90. The stop is $15.24. CGC is trading at $16.17.

Long Term portfolio:
Long half a position in DIS at $118.63. Disney is trading at $132.43. Stop is $98.45.
Long half position in UBER at $31.50 or better. Uber is trading at $37.50. Stop is $26.24.
Long half position in STZ at $180.50. STZ is trading at $188.81. Stop is $164.05.

Timer Digest Signals: S&P: Bearish Gold: Bullish Bonds: Bullish