Wait for these signals to buy coronavirus-battered stocks, says BNY Mellon strategist
Our call of the day comes from BNY Mellon’s chief strategist Alicia Levine, who has advice for those wanting to know when to buy beaten-down (and down) stocks. She said they first need a solid view on where this virus is headed. “If you think it is essentially a short-term problem, a hit to growth, but then it is over by the summer, then you’re fine going into the market. But if you think it is worse than that, then you have to play that out,” she told MarketWatch.
More details on the subject article can be read by clicking on the below link. In addition, S&P 500 Revised Forward Earnings are noted in the article and have been recently moved downward from $174.00 to $165.00 for 2020. Old_Skeet's barometer has been programed with the $165.00 earnings number since January 1, 2020.https://www.marketwatch.com/story/wait-for-these-signals-to-buy-coronavirus-battered-stocks-says-bny-mellon-strategist-2020-02-27
Old_Skeet did a little buying yesterday in a couple of equity dividend paying mutual funds at S&P 500 Index level 3116.