Back to top

Stock Euphoria Gets Crushed: How Low Can We Go?

Read MoreHide Full Article

On April 28 I recorded a video, and detailed in a corresponding article, how all the economic and earnings goodness was well beyond baked-in to stocks.

That video had 6 charts with various fundamental data perspectives, and in the article version I provided more background and commentary on what each one meant to investors.

Here's that link for your review...

Economic Snapback and Euphoria: 6 Fundamental Charts You Have to See

In today's video, I review the damage since then in stocks like NVIDIA (NVDA - Free Report) and Square (SQ - Free Report) . And what follows is probably my shortest article in the history of Cooker writings...

I also look at the Nasdaq 100, or NDX, chart as it highlights how much time you had to think my thesis through and "TPRC" (Take Profits, Raise Cash) when it was still trading around 14,000.

Back on April 28, I didn't think we'd see another 10% bloodletting in the NDX to 12,600. But given this big "tech-growth valuation re-set," and probable forced-selling among leveraged funds, the NDX could easily revisit my favored buy-zone of 12,500-700.

And the good news is that even with today's panicky "inflation plunge" as CNBC calls it, there's a few of my other favorites which may have actually already bottomed: Shopify (SHOP - Free Report) , The Trade Desk (TTD - Free Report) , and Baidu (BIDU - Free Report) .

So click on the video I made at noon today and tune in to see all my charts and where you can pick up the best bargains in the bloodletting.

Kevin Cook, a former currency trader since the inception of the euro, is a Senior Stock Strategist at Zacks where he runs the TAZR Trader portfolio.

Zacks Top 10 Stocks for 2021

In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?

Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.

Access Zacks Top 10 Stocks for 2021 today >>

Published in