Stocks just endured one of their worst weeks since the 1930s.
Since last Friday, the S&P 500 has pulled back 11.5%, the Dow Jones Industrial Average is down 12.4%, and the Nasdaq has fallen 10.5%. At one point today, the Dow was down more than 1,000 points for the fifth consecutive day.
The selling is the result of panic and fear surrounding the coronavirus. And because the financial media is in the business of generating ad revenue, we’ve seen extremely misleading headlines that stoke that panic and fear. When investors are scared and uncertain about the future, they sell. The problem is, they should be buying – or at the very least holding steady.
The coronavirus and every single death related to it are a tragedy. There is no doubt about that. At the same time, the fear is overstated… and the selling we’ve seen this week is a drastic overreaction. I talked all about that in Wednesday’s Special Market Update, and I’m back with yet another breakdown of the recent action in today’s new MoneyLine podcast.
This isn’t the first correction the market has experienced – and it certainly won’t be the last. So in today’s podcast, I dive into the history of stock market corrections dating back to 1966. By looking at how stocks reacted in the past and understanding that the coronavirus pullback is following similar historical patterns, we can create a strategy for the days and weeks ahead.
We’ll also look at a few stocks that are declining right now even though the coronavirus should actually be helping their businesses. I’m talking about Netflix (NFLX)… Facebook (FB)… and more. If people stay in more to avoid the virus, they will likely stream more content and spend more time on social media.
The housing sector is another area that shouldn’t be affected by the virus. I’ve had my eye on this industry for some time now, and in today’s MoneyLine I share a name that’s presenting a fantastic buying opportunity in a sector that’s set to explode higher in the years ahead.
That’s not the only buying opportunity the current market weakness is handing us right now. I also name names in a trend that combines two of my favorite investment themes – artificial intelligence and healthcare.
On top of all that, I kick off this latest episode of MoneyLine interviewing Dan Ferris of Stanberry Research. The famous value investor shares his thoughts on today’s market environment, discussing everything from gold to bitcoin to value stocks. You might be surprised by what he has to say.
I encourage you to watch today’s podcast to the very end, as I wrap things up with an important plea to all investors. We’re at a very important moment in the market, and this is one episode you do not want to miss.
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