The Federal Reserve just spent its remaining basis points and is now out of monetary bullets. In times of fear and panic, monetary policy changes will do little for short-term anxieties. The markets need fiscal stimulus to boost its spirits and give suffering businesses the reassurance they need. It is only a matter of time before an economic stimulus plan is put in place.

The S&P 500 is now over 27% off its highs from last month, trading down to its 2018 lows. The novel coronavirus is testing global financial systems and proving that fear alone can destroy value.

 It is only a matter of time before the pandemic is under control and business resumes as normal.

This fear trading has provided investors with a buying opportunity if you can stomach short-term volatility. The stock market will recover as it always has, and I suspect that a rapid V-shaped recovery is on the horizon.

I am looking to upgrade my portfolio with strong blue-chip stocks. Stocks that I am looking at include Alibaba (BABA Quick QuoteBABA - Free Report) , Adobe (ADBE Quick QuoteADBE - Free Report) , JP Morgan Chase (JPM Quick QuoteJPM - Free Report) , and Microsoft (MSFT Quick QuoteMSFT - Free Report) .

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