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These Stocks Are Poised to Lead the Market HigherBy
Wednesday, November 19, 2008
The last 12 months have been just about as bad as it gets in stock market history.
Conditions are ripe for tech right now...
There's just one problem: The time is not right yet. We are near a historic buying opportunity in stocks. And based on the last few bull runs after down markets, major tech stocks should be on your buy list. They performed spectacularly coming out of the last three markets. They could easily do the same again.
Further Reading:
If It Ain't the Next Depression, It's Time to Buy Market NotesAVOID THESE EXPENSIVE COMPANIES AT ALL COSTS
Shed a tear today for the rich... even they're taking a hit to the pocketbook.
Our chart today is a picture of this hit... It's the past year's trading in the Claymore/Robb Report Global Luxury ETF (ROB). This fund couldn't be farther from the "bull market in cheap" we've been writing about this year. ROB is loaded with companies that sell $200 ties, $100 sunglasses, and $2,000 handbags. In other words, "they ain't Wal-Mart." When the economy started breaking lower in January, we heard several folks claim the super rich wouldn't stop spending in a global recession. The market has made hash out of those claims. From crooked Russian oligarchs to crooked Wall Street bankers, the rich are pulling in their horns... which is resulting in falling sales, falling profits, and a 57% haircut in the world's "expensive stuff" companies. As copper's prediction comes true over the next few years, expect the world champions of cheap like ExxonMobil (cheap oil), Coca-Cola (cheap drinks), McDonald's (cheap food), and Wal-Mart (cheap everything) to survive and prosper... and expect ROB to keep heading lower. |
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