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Nope, not nearly enough. The high PE, low/no profit growth stocks still have lots of falling to do. ADBE is a great company with real earnings, but even down some $130 off it’s height, it’s still at almost a 47 PE, which to me is still too high. I would expect stocks like that, and other, less or unprofitable stocks still have a ways to go down with interest rates set to start climbing. High PE growth stocks always get hit the hardest. Start looking at banks and insurers.
The Nasdaq is only 5% from its intraday all time high. With that being said, 40% of Nasdaq-100 stocks are below their 200-day (long-term trend) and 47% are below their 50-day (intermediate-term trend). The Nasdaq is being held up only by a handful of stocks and if those crumble, the Nasdaq could come down a lot more. I’m not calling a top or bottom here. Full disclosure: I’m short IWM in my passive account and own TZA in my trading account, overall though I’m mostly cash across the board.
Nope, not nearly enough. The high PE, low/no profit growth stocks still have lots of falling to do. ADBE is a great company with real earnings, but even down some $130 off it’s height, it’s still at almost a 47 PE, which to me is still too high. I would expect stocks like that, and other, less or unprofitable stocks still have a ways to go down with interest rates set to start climbing. High PE growth stocks always get hit the hardest. Start looking at banks and insurers.
I dont like banks and insurance companies play a game of Russian Roulette.
I am not smart enough to win at that game
No.
I would still say a lot of heavyweights in Nasdaq 100 are overvalued by a solid 25%.
I don't expect Tesla to end 2023 over 600 a share.
Nvdia still a good 40% overvalued. Apple and AMD can easily drop atleast 20%.
I think MSFT is currently one of the best companies out there, but its growth is overvalued.
I dont like banks and insurance companies play a game of Russian Roulette.
I am not smart enough to win at that game
Not liking something shouldn't be a reason not to invest.
I almost bought some united health care back in 2014 but didn't cause I didn't like the company/industry....poor decision in hindsight.
Those of us who are broadly indexed (including small-caps and internationals), who have avoided the high-flying, high (or negative) PE tech stocks or the internet mega-caps, have been patient for over a decade. We've seen a few spirited darlings receive the bulk of investor interest, and with that, the top-line numbers for the indices are deceptive. I mean, the S&P 500 rises, or holds near its high... but most of its constituents fare poorly. A few outsized winners hold up the reported numbers. This sort of thing is unstable, not to mentioned unpalatable.
The market soon will rediscover its love for tech & growth stocks. Fed tapering of bond purchases and slight increases in interest rates (to as much as 2.1% by 2024) are not going to kill innovation.
The market soon will rediscover its love for tech & growth stocks. Fed tapering of bond purchases and slight increases in interest rates (to as much as 2.1% by 2024) are not going to kill innovation.
I am in Nasdaq long term because I believe technology is going to outperform long term. Im taking a beating at the moment but its to be expected.
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