We’re currently in a pullback that could evolve into a 10% plus correction. However, that only provides a buying opportunity for the long-term investor.
After decades of waking up to Wall Street news and then trying to make sense out of the world’s most important stock markets centred in New York for what might happen on our ASX, I have to say the overnight positivity for all three US key indexes completely surprised me!
Somebody told you there’d be days like these and now I’ll show you how to play them.
I hope I don’t have to warn about the three I’s of May because they’re certainly ruining our April brush with the stock market! They certainly came to bite our portfolios this week, with our market losing close to 3%, meaning the S&P/ASX 200 index is actually down 0.79% for the year to date.
I feel any ‘smaller picture’ stories that I normally cover on Mondays must take a backseat to the big pictures of the fear of sticky inflation delaying rate cuts and the prospect of a real hot war involving Iran, Israel, and the USA.
A serious sell-off has been a long time coming but Wall Street is trying it on right now, as a consequence of the slightly disappointing CPI reading earlier this week.
Last year, I suggested that many quality companies looked well-priced and so I recommended a variety of stocks. But that was last year. Where am I looking for take-off stocks now? Here’s why I think lithium could be a good play. But which lithium stock?
Thursday’s close for Wall Street’s most-watched Dow Jones Industrial Average was a 530-point slumping, making it the worst day since March of last year and completed four days of losses in a row. Then on Friday, along came a bigger-than-expected job creation number, which was bound to bring US rate cut doubters out of the woodwork.
Despite US stock markets and our market index hitting all-time highs, I can’t get out of my head this fact from J.P. Morgan that from 1972 Wall Street has rallied in five of the eight election years with market gains of 12-26%!
History has shown that selling stocks in May and going away until mid-September can be a profitable play but history has shown a US presidential election can change all that.
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