The market is still trying to find its way back from the thumping it took that started in October of 2018 and ended in December.
At their lows, all three indices – the Dow, the NASDAQ, and the S&P 500 – were in bear market territory. A bear market is when an asset is down 20% from its high during a 52-week period.
Since the end of December, the markets have been on a tear, with the Dow, S&P and NASDAQ up 19%, 18% and 20% respectively. I guess what we thought was a bear market turned out to be a really nasty correction.
A member of a Facebook group that I’m a part of posted that you should never buy stocks in a down market. To this I replied that you should be buying stocks all the time.
In fact, let me share my shopping list with you of stocks I had been waiting to go on sale. Here are their prices in late December compared to today:
|Stock||Price 12/2018||Price 2/15/2019||% Change|
|New Relic (NYSE: NEWR)||$67.70||$107.25||+59%|
|Okta (NASDAQ: OKTA)||$53.26||$84.31||+58%|
|Twilio (NYSE: TWLO)||$74.00||$106.25||+43%|
|The Trade Desk (NASDAQ: TTD)||$104.00||$159.00||+52%|
|Roku (NASDAQ: ROKU)||$27.26||$52.40||+92%|
These are only five stocks on my shopping list. The performance on most of the others is similar to these.
I don’t know how much higher the market will go, but if you didn’t get in, you missed a great opportunity!
However…I’m sure it won’t be the last.
Click the image of the book at left to be taken to its Amazon page. (Disclosure: As a participant in the Amazon Services LLC Associates Program, I earn a small commission on each sale generated through these links.)