I got burned! I figured the market would continue to slide and sold a good portion before the bell. I didn't sell all of any stock I like, but cut them down significantly. Problem is... I picked the wrong ones!
About 15% of my portfolio is in NDVA. Over the last month they've been killing it, and I made good money. They flirted with $780 but have quickly fallen to $722. Its a tech stock, and I'm not big on them at this time, but man! It seduced me and I did good for a while! This particular stock goes through some wild swings, so it probably will come back soon. But still... I got greedy.
I have a theory about one stock in that it bounces between a high of $72 and a low of $58. Its Big Lots, by the way, and I've seen it happen 3 times this year already. Ultra low PE by the way... It got down below $64 and I'm waiting with a little bit of cash for it to drop some more (which currently, it isn't).
I am wondering if I got the nerves needed to this... I think I need to be more patient.
Here's my opinion. (I have no advice because I'm not a professional)
NVIDIA will continue up for a week or two. Then tank horribly just before or after the stock split.
Retailers are going to do a bit better as people get comfortable with getting out.
But the reduced inventories and lack of options due to supply chain interruptions it's going to kill them ultimately.
And so...
Watch for earnings and LOW forward P/E ratios... you want rising earnings and low P/E ratios... something outside of construction industry.
Growth stocks like NVDA are only going to be good for a while longer and then the Value stocks and utility stocks are going to outperform growth stocks.