There’s no sugarcoating it: The S&P 500 posted its largest three-day drop in months. One of the hardest hit sectors was technology, as investors abandoned internet stocks in favor of more defensive plays. The tech-heavy Nasdaq 100 index saw the biggest three-day pullback since 2011.
Meanwhile, Treasuries climbed to the highest level in more than a week.
Is it time to follow suit and avoid stocks, which some fear have become overvalued? Hardly. With first-quarter earnings season kicking off tomorrow we’re just getting warmed up. While we’re seeing profit taking in some of the market’s biggest winners for 2014 so far, these pullbacks are opening up opportunities in some of the market’s most compelling growth stories.
You just have to know where to look.
And you can do just that by running any stock through Portfolio Grader. I’ll get you started by reviewing the 72 big blue chips that were just upgraded and downgraded this week in Portfolio Grader. If you hold any of the stocks below, you may want to take note because they are making big moves. Let’s take a look…
Last Week’s Buys, Now Holds