Not so fast, you folks crying bear! In the latest edition of StockWatch: Between The Bells, BloggingStocks' own Georges Yared says this is still a bull market, although it's undergone significant correction. The chief investment strategist of Yared Investment Research says this is a market of much opportunity.
Take the Nasdaq's 6.5% slide last week, for instance -- Georges says Apple (NASDAQ: AAPL) and Google (NASDAQ: GOOG), both hard-hit last week, are now priced to move. Apple shares have slipped below $165, down nearly $30 just from last Wednesday, but the company is upbeat about this year's holiday sales. Likewise, Google has dropped $125 from its 52-week high of $747.24 last Wednesday, presenting another buying opportunity.
Georges hasn't lost faith in Crocs (NASDAQ: CROX) either, and expects the breakout shoe brand to stabilize at around 35% to 40% growth annually.
What to avoid? Georges says steer clear of the big-box retailers and department stores like Wal-Mart (NYSE: WMT) and J.C. Penney (NYSE: JCP), and probes Wal-Mart's recent earnings report.
Lastly, Georges recommends investors consider Bank of America (NYSE: BAC). Georges says Bank of America is managing the financials' current credit crisis better than its banking peers, and he expects Bank of America to continue growth through 2009.
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Reader Comments (Page 1 of 1)
11-16-2007 @ 6:04PM
Harry said...
Who needs to buy (rush) into this market?? I'd
wait until at least the end of the 4th quarter and probably into 2008 and get more information on credit market.
11-18-2007 @ 8:22AM
rick simovitz said...
there is no reason to buy stocks now. if i'm wrong i'll miss the 1st 20% instead of the falling knife. however,gamblers will inch in now bec. of seasonality and cheapness good nibbling inc. aapl,vmw. only gamblers!
11-18-2007 @ 9:43AM
rick simovitz said...
my opinion: follow the dollar. stocks should follow on upside. if that doesn't happen thats a short.
11-18-2007 @ 10:04AM
rick simovitz said...
this week should be follow through with stocks and the dollar as we anticipate the shoppers for the sales. winners like aapl still good this week even losers like jcp should do ok this week. but shopping will be weak and the news will be the grinch for the retail losers.
11-16-2007 @ 6:06PM
Tom said...
I agree with Harry. These blogg guys sound like brokers! Read what Gioldman Sacks said today and it should cool things down!
11-16-2007 @ 6:09PM
Neal said...
Banks of America be nice buy under 40.
11-16-2007 @ 6:18PM
David Huston said...
Lots of luck with those financials, including B of A. We just don't have the whole story yet to suggest it's time to buy bank stocks.
11-16-2007 @ 6:19PM
G.A.Mann said...
The call on Bank Of America is not a good one. This stock should be sold. The internet is full of messages regarding Bank of America giving credit cards to and opening accounts for illegal immigrants without social security numbers. Snoops.com says this is correct and is new bank policy.
11-16-2007 @ 7:44PM
BILL said...
Good to have your comments again, Georges.
Right on with Apple and Google. Both should have great quarters.
I am not so confident of Bank of America only because of personal experience in a few of their branches. They seem to move people around on a continuous basis. Rarely see the same faces. Don't know where they are all shipping them to, but this can't help consistency and stability of personnel. I would be more inclined to wait this company out for awhile.
Always enjoy your analysis.
Bill
11-17-2007 @ 5:56AM
Mort said...
Agree with the above comments. Why buy Bank of America when so many articles point out that there is "more negative news to come" in the credit market fiasco? Heard the well-placed rumor yesterday that Bank of America is considering buying Country Wide in attempt to rescue its $8 billlion investment..?
11-17-2007 @ 11:18PM
Louis Morrone said...
It's better to be rich inside. Go to: www.themiracleinsidemymind.com
11-18-2007 @ 8:44AM
rick simovitz said...
my opinion: jcp diverged long time ago from wmt. follow continued divergence to short jcp.
11-18-2007 @ 8:46AM
rick simovitz said...
i believe after xmas news will be disastrous to retailers. short into the disaster by charting the loss prior to the news.
11-18-2007 @ 9:09AM
rick simovitz said...
in early 2007 the dollar plummeted and the mkt kept going. then the bank crisis lowered stocks. now the dollar is rallying and stocks should do the opposite,ie. at first stagger lower then rally later. hx. repeats itself i hope.
11-18-2007 @ 5:08PM
rick simovitz said...
electric went out during this message. anyway europe should continue the global stock deflation. look for the euro to confirm by going down.
11-18-2007 @ 6:13PM
rick simovitz said...
fri. neg. prices for jcp and tgt confirm weakness on an up day. nuff said