dropping and the momentum of the market I don't see any opportunity to buy low or what sector to get into . No reason being in a defensive sector I guess ? Any opinions
2006-10-03 16:08:13 · 5 answers · asked by newjersey2112 3 in Business & Finance ➔ Investing
You don't have to trade in energy/oil to make money.
Brokers, retail, and technology are all looking decent at the moment. Several have recently set 52 wk highs.
GS could go to 200, ANF/AEOS/KSS are all moving well too.
Technology's currently taking a little break.
As for oil, it could bounce back up, but it depends on if it breaks support @ $60. So far, it's holding ok, but if it breaks, then there's some good money to be made to the downside. :-)
Hope that helps!
2006-10-03 16:16:35 · answer #1 · answered by Yada Yada Yada 7 · 2⤊ 0⤋
You will need a broker that is willing to take the transaction from you. Most will require pre-approval to trade options. They will look into your net worth, income, financial background/history of trading, but, to be honest, if you don't really know what you are doing in the market, I would stay away from options or hire an investment manager to assist you.
Also, not sure what kind of correction you are looking for considering the DOW closed at an all time high today.
2006-10-03 16:20:21 · answer #2 · answered by Schemer 1 · 0⤊ 0⤋
Techs are overpriced and big pharma's still cheap. Since a recession is looking more and more likely, pharma might be a good bet for at least some chunk of the allocation.
2006-10-03 16:21:44 · answer #3 · answered by szydkids 5 · 0⤊ 0⤋
Try the biotechnology sector. Very bullish long term. Check the links available on this site for more details:
http://biotechprogress.blogspot.com/
2006-10-03 16:20:21 · answer #4 · answered by cellular_malformation 1 · 0⤊ 0⤋
the only company I would get stock in right now is nintendo. Hold it for 3 months and sell it all.
2006-10-03 16:17:19 · answer #5 · answered by Joey R 5 · 0⤊ 0⤋