I am preparing for a prolonged correction or a bear market ...the writing is on the wall...the local STI broke below its 200-day MA and have since failed to recover above it. Most stocks have also followed suit. It is time to hold my existing portfolio for a prolonged period of time (I don't have that many), and draw up my list of stocks that can be bought at bargain prices later on. I am expecting this bear market (if it materialises) to be a mild one.
Comparatively, the Dow looks stronger, so it may be more worthwhile to invest there.
US names to look out for include:
Anadarko Petroleum
J. Crew
Whirlpool
Wells Fargo
Delta Airlines
Sprint
BP
J.C. Penney
GM
Citigroup
Bank of America
Microsoft
Why these names? Because they are all recently bought by the biggest names on Wall Street, namely, John Paulson, Warren Buffett, David Ainhorn, Bill Ackman, George Soros and Daid Tepper.
No comments:
Post a Comment