Markets are cooling off after historically high momentum levels, but opportunities still exist in today’s market climate. Just make sure you’re trading the new strongest and weakest sectors — and more in today’s stock market recap.
I’ve identified three weak stocks to short and take advantage of this sell-off.
In today’s stock market recap, global markets are mostly lower with large-cap tech stocks leading the downshift.
The Nasdaq is trading in the twilight zone, as I had predicted. This is what I call the area between the 50- and 200-day moving averages.
I expect the Nasdaq to eventually come down to its 200-day MA.
Lumber, copper and other commodity prices continue to surge despite reassurances from the Federal Reserve. Investors are worried about inflation outpacing the growing economy after the spike in yields earlier this year, and the disappointing jobs market.
The Materials, Energy and Financials sectors are leading the market. I would look for opportunities in these sectors. Stay away from Consumer Discretionary and tech stocks.
Cohu Inc. (Nasdaq: COHU) is a leading supplier of electronics for global semiconductor makers and test subcontractors. COHU is in the tech sector and Semiconductor Equipment and Materials industry. Both the sector and the industry are weak right now.
COHU is heading toward its 200-day MA. It failed to take out its most recent high, or breach above February’s swing high. I see this stock continuing its downward trend.
The second stock I’ve identified is a Brazilian company in the education and education training services industry. It’s down 53% in the last year and looks to be breaking down even further.
The third short play is similar to COHU. This company also manufactures electronic test equipment and is in the tech sector. It has a one-year return of 3.13% — unlike other tech companies posting triple digits in the last year.
In today’s video, I’ll go over why the Nasdaq is selling off… how long these conditions will persist… the weakest stocks in the Nasdaq right now… which sector is selling off the most… and three stocks to sell right now.
Wall Street legend Chuck Hughes is about to share the secrets behind his Triple Threat strategy that grew a small $5,900 account… into over $212,217 — in just two years!
Real money, real trading.
This will be an exclusive reveal and won’t be shared with the public… These are trades investors have never seen before… And it’s the chance to jump in alongside Chuck as he aims to quintuple his portfolio in three months!
Check back each morning for Roger’s Radar and the most important news and numbers in the WealthPress stock market recap.