Is it me or are my eyes bleeding, all i see is red =)
Unless you’re shorting stocks or using puts today was a little rough, as i speak the NASDAQ is down almost 4% same with the Dow and the S&P and even the mighty TSX is lower by 2.6%.
Why you may ask?
Because the China stock exchange fell almost 9%, oh plus Greenspan said some nasty comments about the possibility of the US economy heading for recession. I guess he forgot about the spending power of the baby boomers in there prime.
But the real reason the market is down……… PROFIT TAKING, this is a good reason why you should take your profits. This does happen time to time, but corrections are good, cause after corrections come opportunities, and that means more money to be made which i like =)
Some stocks which are tasty at this level (Full Disclosure, I do own these stocks, otherwise why else would i recommend them if i didn’t own them)
GS - Goldman Sachs sitting at $200 good buy
SBUX - Starbucks sitting at Just above $30 a steal of a stock
AAPL - Apple now that’s looking tasty at this level $83 yummy!
AKAM - Akami also another good looking stock.
The point is there are lots of deals to be found, not just only these stocks when the market corrects, look for these deals over the next couple of days,
-Enjoy
