Buy The Ones Going Up

JC Parets
October 8, 2022

Is it a bear market or a bull market, JC?

Are you bullish or bearish, JC?

These are the wrong questions to ask, in my opinion.

They're the ones I get most often, but I think it defeats the point of what we're trying to do here.

The question I find myself asking is whether we should be spending more of our time looking for stocks to buy, spending more of our time looking for stocks to sell, or should we be on vacation doing nothing in this market?

Those are 3 real options we have as investors.

For me, I think it's worth spending our time looking for stocks to buy.

I laid out my reasoning on this week's Live Conference Call.

But more importantly, we discussed which stocks specifically we want to be buying.

And there's a common theme among those names - that they're all above their Q2 lows.

In case you didn't notice, most stocks stopped going down in June. Some even stopped falling in May.

The new lows list has been contracting.

Did you count how many stocks on the NYSE made new 52-week lows today?

How about the number of stocks on the Nasdaq that made new lows?

I would encourage you to go count them.

It won't take you very long.

So sure, there are some stocks that are still struggling.

Always right?

But almost NO stocks are making new lows.

So again, I'll ask, should we be spending more time looking for stocks to buy? Or should we be spending more time looking for stocks to sell?

The stocks that are working continue to work.

The winners keep winning.

We have the full list here on our Trade Ideas page, but they're much more organized with alerts set up to trigger in our NEW Rangefinder App.

If you don't have our new App yet, just Email Us Here and we'll set you up. Also please feel free to call any time (323) 421-7991 and Mary will get right back to you.

But we're looking for stocks to buy.

What about you?

What are you doing in this market?

Let us know!

- JC

 

Filed Under: