ETF.com MAKES NO REPRESENTATIONS ABOUT THE SUITABILITY OF THE INFORMATION, PRODUCTS OR SERVICES CONTAINED HEREIN. You should not use such information for purposes of any actual transaction without consulting an investment or tax professional.ĮTF.com DOES NOT TAKE RESPONSIBILITY FOR YOUR INVESTMENT OR OTHER ACTIONS NOR SHALL ETF.com HAVE ANY LIABILITY, CONTINGENT OR OTHERWISE, FOR THE ACCURACY, COMPLETENESS, TIMELINESS, OR CORRECT SEQUENCING OF ANY INFORMATION PROVIDED BY ETF.com OR FOR ANY DECISION MADE OR ACTION TAKEN BY YOU IN RELIANCE UPON SUCH INFORMATION OR ETF.com. A reference to a particular investment or security, a credit rating, or any observation concerning a security or investment provided in the ETF.com Service is not a recommendation to buy, sell, or hold such investment or security or to make any other investment decisions. What gives these stocks the right stuff to become big winners, even in this brutal stock market?įirst, because they are all low priced companies with the most upside potential in today’s volatile markets.īut even more important, is that they are all top Buy rated stocks according to our coveted POWR Ratings system and they excel in key areas of growth, sentiment and momentum.Ĭlick below now to see these 3 exciting stocks which could double or more in the year ahead.The data and information contained herein is not intended to be investment or tax advice. If you’d like to see more top stocks under $10, then you should check out our free special report: This could be a hard round for the bulls to win, but if they do, it could be the start of a strong leg higher.Īnd if the bears come out ahead, we’re still protecting ourselves with sell trade triggers and by taking our gains while they’re still quite profitable. I’m looking forward to see what tomorrow brings. If it falls below, then we could see a significant dip lower.īecause the market reversed so suddenly at the end of the day, it’s hard to know what the market sentiment will be going forward. The index’s ability to stay above this land could potentially mean the bull rally is still on. Now, even with the end-of-day selling, the S&P 500 is still sitting around 4,100, which is our important support/resistance level. That, plus a second hot inflation reading, seemed to put a chill on all the buying. In other words, the bulls are winning this round of tug-o-war, and investors are “risk on,” buying up stocks that were previously deemed “too volatile” and “poor investments for a high-rate environment.”īut things were a bit different today… and that’s because we had the addition of two Fed officials saying they had considered the possibility of 50-bps hikes. Investors appear to have come around to the idea that the Fed probably won’t lower interest rates in 2023 - something Fed Chair Jerome Powell has been saying for months.Īnd even so, investors haven’t sold off all their holdings in a panic. We all know by this point that inflation is not going to simply drop in a straight line over the next few months, but inflation is still down significantly from its peak. It felt like Tuesday’s results were already somewhat baked into market prices. In the end, the S&P 500 ( SPY) closed down 1.4%. It looked like we were going to get a repeat of Tuesday, with stocks falling on the news and then recovering their losses before the close.Īnd then, in the last hour of trading, the market tumbled again. Again, PPI showed prices increasing (at a rate of 0.7% month over month), which was faster than the 0.4% rate economists predicted. Then, this morning, we got the January Producer Price Index (PPI) report. Both of those numbers were higher than most economists expected.Īfter investors spent 2022 buying and panic selling on inflation-related data, it seemed like a sure thing that we’d get massive selling… on both days, but Tuesday ended up flat (with the Nasdaq index actually up), and all three major indices have almost fully recovered their losses from this morning. The report showed prices rose 0.5% month to month and are up 6.4% in the past year. On Tuesday, we got the latest monthly Consumer Price Index (CPI) report from the Bureau of Labor Statistics. (Please enjoy this updated version of my weekly commentary originally published February 16 th, 2023 in the POWR Stocks Under $10 newsletter).
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