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Looks like buying the dip finally paid off. We are technically still in the middle of a dip, even though the markets are going back up, so I will keep buying. The tech and growth stocks are still on sale, especially the Ark Invest ETFs. Long term these will pay, and we didn't see a pullback like this since the end of October 2020. I'm trying my best to dollar cost average into more Ark LEAPS. This is not a crash if you haven't figured it out yet, but it is a transition from growth tech stocks into stocks that will perform well and benefit most from a recovery. Today let's take a look at some companies that are poised to do well from the economy opening back up. It is not to late to get into most of these; the giant is waking up.
Notable Recent Picks Today:
$AKKF was down a decent amount at one point and I tried DCA another contract. Also, picked up an $AMZN condor which is already up 10%. If you are interested this only cost $800 and has potential to pay $3700 if it stay relatively flat, which Amazon has been doing for a while!
Adding to Watchlist: (Recovery Plays)
$V: All of the credit card companies would most likely benefit from and opening of the economy and shoppers going out into the world and spending money again. Not to mention if employment goes up, so should these. This is a more of a long term play, at minimum I'd do LEAPS with a strike of mid $200s.
Target Price: $250
Timeframe: 6-10 months
$MAR: Marriot International or any major hotel chains also have a economic recovery catalyst and have been taking off in the last few days. The money has transitioned into these 'recovery' stocks already, but I don't think it is to late. I will wait for a pull back and buy on support. If you zoom out, you can see that these are still a good buy even with them up 15-20% in the last few days.
Target Price: $170
Timeframe: 4-6 months
$RCL : Royal Caribbean or any major cruise line, take your pick. If you recall this sector is one of the hardest hit by Covid-19, so in theory they should have the biggest growth when the economy is 'going back to normal'. Keep in mind, these are coming off of some big pushes towards the target prices in the past week, therefore I personally am not in a rush to buy them but it is more of a confirmation that when it does drop to support its an excellent buy.
Target Price: $110
Timeframe: 3-5 months
$CAT: We had called out Caterpillar toward the end of last month as a good buy and sure enough it hit the support and pushed up a decent amount. Not only do they have autonomous vehicles but they have exposure to oil - which is up this week. I'm having to adjust the target and entry as $CAT hit our target today.
Target Price: $240
Timeframe: 3-5 months
I am assigning all of these 'recovery' stocks a risk of 3 as I believe that there is a big catalyst and strong reason to believe that they will continue rising through 2020 (unless there is a bigger economic crash).
Note: Risk (1 out of 5) is my opinion of how risky the stock and these plays are; 1 being the lowest and 5 is the highest.
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