With Sandy still not a memory for many, it’s tough to focus on the market right now. As someone who’s suffered through both multi-day power outages and home damage, I feel for anyone who was in the hurricane’s path.
With that said, I’d be remiss if I didn’t take a peek at both the market and some beaten-down stocks I’d buy.
Let’s first start with the market, and as I said last week, I think it continues to trend up, no matter who wins. In fact, you can see below that the uptrend is still intact.
As for individual stocks, I run an algorithm that looks at pullbacks vs. the volatility of the stock. I’m trying to compare apples to apples, so that a 30% pullback in Netflix (NFLX) is similar to a 7% pullback in Procter & Gamble (PG), due to their different volatilities.
Given that, I think two stocks are ripe to start buying. Notice, I said START buying as these selloffs may continue. If so, I’d look to buy MORE Apple (AAPL), for example, if it drops another 15% from where it is now.
If you’re looking for energy plays, I’ve traded Blackrock Energy (BGR) a lot in the past few months. Worth picking up now.
Okay, we’ll be back post-election next Friday. Hope your man wins.
Gary B. Smith joined FOX News Channel in 1999 and is currently a regular commentator on "Bulls & Bears," including his own segment called, "The Chartman."