Listen to my Special Market Podcast for an update on the latest market gyrations.
Dear Sheryl,
Today, we experienced a bit of a see-saw ride on Wall Street. The broader indices opened nicely higher this morning, with most of our Buy List stocks rebounding impressively. Unfortunately, the rally wasn’t sustainable, as the stock market lost its mojo this afternoon. Here’s what’s happening: There was a lot of selling pressure as we approached the close. ETFs are typically sold in the last 90 minutes of trading. And as long as the ETFs are selling, they’re dragging down the rest of the market with them. To further discuss the latest market gyrations and how ETFs ignited the selloff this afternoon, I’ve recorded another Special Market Podcast. You can listen to today’s Special Market Podcast here. Clearly, it was another upsetting day for investors. Wall Street is currently ignoring fundamentals and focusing on liquidity redemptions from the ETF industry. But the good news is that Wall Street can’t ignore fundamentals for too long—and good stocks tend to bounce. I encourage you to hang in there, folks, even though it’s been a difficult month. I do expect many of our Buy List stocks to rebound when good earnings are announced—and we have slew of earnings reports scheduled for this week. For my complete thoughts on today’s market oscillations, listen to today’s Special Market Podcast now. If you encounter any technical issues with playing the recording, please contact my customer service team, and they’d be happy to get you squared away. Sincerely, Louis Navellier
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