In bear markets stocks can fall to unimaginable levels.. AMZN to $70? AAPL to $90? GOOg to $65 ? Calling bottoms is a fools game. Follow Price action.
Why not? I bought QQQ at 25 sold at 28 because i thought at 28 it was expensive. On second thought should have held but I am not build an investor.
These threads are usually pretty popular at market bottoms. At the very least many of you suffer from tunnel vision that prevents you from trading a divergent market well. Energy is a generational LONG trade and you guys are still arguing how far QQQ will fall. Banks and some industrial stocks that got beat up on recession fears are posting very healthy earnings.
The time to buy energy stocks was when oil was at -$36. Easiest trading signal ever was that XOM was probably not being priced rationally with oil at -$36. I am almost ready to trade my XOM for beat up tech but that div yield is tough to let go of. Bank stocks can only really grow through acquisition at this point and there is so much redundancy it is absurd. Mortgage banking is shot here. Total over capacity with commercial banking that is going to need to size down. GOOG at $65 is exactly what I am hoping and waiting for.