Five Stocks You Need to Dump Right Now
Markets have been a mixed bag this week, in the usual “push me, pull you” action we’re familiar with by now. It’s a battle of the same warring narratives – how high will the Fed push rates, how long will they keep them there, will they overdo it and push us into a recession, ad nauseam. We’ve heard it all before.
I’m a bit concerned about a market downturn, not just from the obvious signals, but because I’m tracking a lot of things that don’t usually make headlines or get talked about a lot. One of those things are buybacks – or rather, the suspicious gap between buyback authorizations and actual buyback volume.
If this key pillar of market support doesn’t materialize this year, it could be a bad sign. You can read all about that in this week’s Total Wealth column.
In my live show this week, I asked you to send me stocks that just posted earnings, so I could comment on where they might be moving next based on how those calls went and give recommendations.
Well, let me tell you… it was a bloodbath. Here’s the thing: a positive earnings report isn’t always going to create an upward surge, and an earnings miss doesn’t always create a buyable dip. Of the seven stocks I reviewed, five of them were serious trash, and you need to get out of them now if you own them.
(Yes, that is really me in suspenders. You’re not likely to see that again anytime soon, so that by itself is a reason to watch the video.)
We’ll be back next week with another episode. See you then!