There are a lot of investors we find who are hanging on to technology stocks with the hope that they're going to rebound, and that's still a very dangerous thing. We really need the capitulation of those investors. So we still could see more downside on the Nasdaq and in technology.
I think there is a growing perception that the next move by the Fed could actually be to ease -- in other words, lower rates. Now, we're not going to see that certainly before the election, but we could see it late this year, early next year. I think as that perception might spread through the markets and become the consensus, we could actually see a rally in technology stocks,
If you're a day trader and you can stomach market volatility on a day-to-day basis, ... and want to play that momentum, stick with technology and biotechnology. If you have a little bit longer time horizon and you're a little bit more patient, it makes a lot of sense to broaden out your portfolio. Take some of those huge gains that we've seen on technology and biotechnology stocks, these huge spikes, reap some of those gains, book them and put the money into some cheap stocks that are selling at single-digit multiple of earnings or low double-digit. There are a lot of cheap inexpensive stocks out there.
Techs have been underperformers during the month of December, especially the second half, so I think we're seeing some bargain hunting within technology.
More Tim Ghriskey Quotations (Based on Topics)
Business & Commerce - Computers & Technology - Time - Perfection - Competition - Money & Wealth - Environment - Moderation & Temperance - War & Peace - Idea - Terrorism - Experience - Selling - Economics - Advices - Management - Faces - Sense & Perception - Efforts - View All Tim Ghriskey Quotations
- - - - - - - - - - - - - - - - - - - - - - -