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Chasing Prophets

09/08/2020 23:23

The past few market days, plus even this long weekend I have posted several times that there would be large scale tech bleed, and that it would continue across the board in stuff like $Microsoft , $Apple , $Amazon.com , $Facebook , $Twitter , $ZOOM VIDEO , $Nvidia and I also said that the worst bleed of all would be $TESLA . I even mentioned how it would continue to effect stocks like $Target and $WalMart as well. If you are long in any of these companies and you believe they will show growth for years. Then in my opinion it is not wise to plan an exit now after these losses. That was a good plan awhile ago. Just relax, live your life and wait this correction out.

If you are looking for entry points, then I would say, wait, but pay close attention to your shopping list. If you are nervous about catching the perfect dip price, don't attempt too, just pick your own price target and enter at it. Don't live in regrets, of what you could have bought and at what price. Profits are positive no matter what size of profits are produced.

However, I have to say again, in my opinion this bleed isn't fully over yet, this is a large rotation of correction affecting much more than just the tech sector alone. It is just impacting the most extremely overvalued sector in the market the worst. This was going to happen inevitably.

Take this time to shop stocks in other sectors that are undervalued, get some recovery stocks, get some growth stocks outside of tech, but most importantly, use this time to read, learn from mistakes and become a better investor. You will be well rewarded with your time and efforts.
Disclaimer: The comments, opinions and analysis expressed herein are for informational and educational purposes only and shoulk not be considered as individual investment advice or recommendations. Webull is not responsible or liable in any way for comments posted by pur users.

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All Comments(10)

Emigrant7609/09/2020 03:09
Well Said brother.

Chasing Prophets09/09/2020 17:10

Thanks.

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PapaBezos09/09/2020 02:31
Is this a buy the dip moment and the bull rally will continue or are we entering a sell the high phase, as some analysts suggest, and this is the beginning of the dreaded "W" recovery?

In all likelihood it is too early to tell but if you had to venture a guess?

Chasing Prophets09/09/2020 17:10

Well it seems today that people are back to bullish pushes in the tech market for now, but I still feel some more bleed is most likely ahead of us in that sector. And as for the recovery, I feel it won't go near a full W, it will stay more of a V shape overall with occasional rough patches, even in the tech sector. Especially if the government approves more stimulus funds and we get a safe and successful vaccine, then everything will start to rise fast across most sectors of the market.

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yon***com09/09/2020 01:48
What do you think the price of ZOOM VIDEO by the end of the week (friday) ?

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RPTHEGWAY09/09/2020 00:33
Surprised nobody has come at you with their anger and denial yet

Chasing Prophets09/09/2020 00:45

Yeah, that is always something I'm prepared for with every post on Webull. Lol.

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Sir trades alot09/09/2020 00:13
Any recommendations on other descent sectors to look into?

RPTHEGWAY09/09/2020 00:39

I know Kroger is a slow mover but it's a very safe stock and has a lot of upside. Even on the worst days it doesn't get hurt too bad.

Plus it's cheap.

RPTHEGWAY09/09/2020 00:38

I'm bullish on Caterpillar and Kroger right now. Kroger has been killing it and also reports earnings Friday which they woll enilighate. CAT looks like it wants to breakout anytime keeps testing that 150.25 wall and if if passes through and holds it will go to 160. Also Walmart even though it has taken a hit it hasn't been hit as hard as everything else. Walmart Plus launches in a week also.

Add 3M to your watch list as well.

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Mevor Trilton09/09/2020 00:08
great post!

Chasing Prophets09/09/2020 00:44

Thanks.

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jungle city09/08/2020 23:29
good post

Chasing Prophets09/08/2020 23:37

Thanks.

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Mar***com09/08/2020 23:26
So how far are u looking for this correction? A 1 month? 2? Or 3?

Chasing Prophets09/08/2020 23:43

I would say that the bleed will continue over the next few days, slowing ever so gradually each day for most tech companies. And the overall market rotation correction to a healthier market balance, yeah probably a month or 2 months. There is several factors though that could steroid that process like a vaccine being produced.

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nie***com09/08/2020 23:24
great buying opportunities.

Chasing Prophets09/08/2020 23:36

I agree. I'm actually looking forward to some solid positions for long term investments.

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denver09/08/2020 23:24
you in a thousand other people everybody knew this was coming

Rus***com09/09/2020 19:45

lol everybody "knew" it was coming, the difference is nobody "knew" exactly what day it would start.

Chasing Prophets09/08/2020 23:35

I would agree that a lot of people did know it was coming, but I would also say that tons of new investors did not know or they were too excited about profits to be concerned. There is so many people spamming rocket emojis at every sign of resistance in the drops.

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