Don’t Let Big Tech Earnings Make You Careless – Here’s Why
Shah Gilani|April 26, 2023
Anyone who’s been following me for a while knows that I’m on live with Stuart Varney on his Varney & Co. show at Fox Business every Wednesday morning. He always asks me great questions and does good research, but sometimes, I have a longer answer for him than I can say on air – or, I have some things to say that I’m not sure his viewers are ready for.
This is one of those days. On the air, he asked me whether a rally in big tech could push the market higher. My answer, of course, was “Yes, it could,” but I had to add a caveat to that, which was, “…and it had better,” because if we don’t see that rally, the market could be making a U-turn.
What I didn’t say to him on the air (and which I’m going to tell you now) is that if the U-turn comes, it’s going to be much worse than a lot of people are expecting.
Just as a reminder, the market’s not being propped up by broad support. Instead, we’ve got about twenty big tech stocks that are driving the rally we’ve seen lately, and where all the momentum in the market is coming from. That means we’re perched on a knife’s edge, and any kind of slump there will kill the rally dead.
But what’s worse is, there’s a particular group of institutional investors that’s long on the market right now, looking for a continuation of the rally. If they get spooked into selling, we’re talking about potentially hundreds of billions of dollars coming off the table – and a crash of epic proportions.
So if I were you, I’d keep those stops tight and make sure you’re in a position to pivot if things start to head south. Here’s everything I couldn’t say on air today, in a five-minute video. Check it out for the full scoop…
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I’ve been looking for opportunities to weather this potential storm, and one of the best I’ve found right now is in an old investing standby – oil. Right now, there’s a huge asset grab underway in the U.S., specifically in the Permian Basin, where major oil and gas producers are looking to make major acquisitions moves. Literally trillions of dollars are in play here.
Money Morning LIVE‘s executive producer, Garrett Baldwin, went on the air to give a full presentation and his battle plan for making money on this opportunity – what companies he’s looking at, where the opportunities are, and how to take advantage.