In the first two trading days, the technology stock index fell 1.76%, while the Dow Jones Industrial Average rose 0.6%, and the Standard & Poor’s 500 index fell slightly by 0.15%.
this “I am crazy about money” The host said he Seeing this kind of rotation of technology stocks Mainly because investors profit from winning positions and deploy profits in lagging parts of the market.
But it won’t last forever, Kramer said on Tuesday, while pointing the audience to the tech stocks he thinks will bottom out first. He called this group “hot” and said it was the main place for the industry to look for buying opportunities.
“These companies have done nothing wrong…. They reported better-than-expected results and predicted higher growth, but their stocks are still depressed this week,” Kramer said, ticking The following companies: letter, Microsoft, Cloud flare, Palo Alto Networks, Rob Rox, AMD with Nvidia.
The former hedge fund manager argued: “They all did a great job. I won’t be stingy: these are the names you want to buy first.” “The best stocks tend to bottom out before all other stocks.”
Kramer said his appeal was rooted in analyzing the technology-led sell-off in his approximately 40 years of Wall Street experience.
“It’s surprising that almost every time these high multiple stocks sell off, the decline continues…Three days after the beginning, then they started flat, and then went higher again, as if nothing happened except the shock. Weak hands and recharge,” Kramer said.
“The holidays are a bit tricky,” he added, referring to the U.S. stock market being closed for Thanksgiving on Thursday, “but these soaring stocks should bottom out on Friday.”
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