WatchList

Wow. The overextended equities market FINALLY sold off and it sold off quite hard on Friday. Unsurprisingly, Omicron shook the market and paper hands ran quickly to the sidelines. It makes sense. Omicron could hamper economic growth for an extended period of time, so moving to cash is an obvious reaction and buying dips must be made with caution.

Despite the selloff and possible continuation on Monday, it’s important to focus on new opportunities and quality stocks selling at discounts. I’m a big fan of large tech, discount retailers, energy (traditional and alternative), and banks. However, I don’t really want any of them until I hear more about this new Covid variant. Even if I don’t make purchases early in the week, it makes sense to start creating watchlists of the most overly sold stocks. Here are a few that made the scans today…