Hubert Senters here.
Let’s take a look at the Nasdaq. Now, in particular what I recommend you do right now is make a shopping list of stuff that is selling off but holding up rather well. So in other words let’s take an example of let’s say Facebook versus Amazon.
You can see the Nasdaq’s down a lot $219. You can see that it’s down a lot down $42. You can see that the Dow is also down $317. Basically, all indexes are down so markets getting beat up a little bit. So if you compare say something like Facebook, FB going lower, we had target 2 hit here at $115 and it bounced back up to $162.72.
Now, it’s rolling back over. The next target is going to be $120. So this wouldn’t be a candidate that I would buy yet. Even though it has hit target 2. As the market’s going down the Nasdaq market is going to pull Facebook down and vice versa Facebook goes down is going to pull the Nasdaq down a little bit.
It’s still got a little bit more drop to the same thing like TSLA, Tesla. Tesla is in a little bit of a tough situation here. It’s going to cruise and drop down to like $260. AMZN, on the other hand, yes it’s selling off. It is down a lot. It’s down $56.
It’s only down $3.6% but it’s still above the cloud. So what you’re looking for is a long shopping list of — yes, the market’s getting hurt. Yes, the sky is falling.
It may actually be the time where it starts really getting in bearish mode which would be a good thing we need a pullback, it could be healthy for the market really. So start making a short list of stuff that is holding up well with the sell-off something like Amazon and then look for other stocks like that. So that when it bounces those things will be the first thing that bounce hard out of that hole.
Mark Helweg is going to be doing a special webinar on ‘’3 Momentum Strategies that are making big money in the markets right now with many recent examples.’’
That webinar happens today, Tuesday, March 27th at 8:00 PM EST. All you have to do is click CLAIM MY SPOT now to register for the webinar.
Good luck. Hope it helps. And I’ll see you on the next video.
Hubert.
