Today, Larry Berman CFA, CMT, CTA and Elliott Fishman commented about whether CHR-T, AW-T, AD-T, AD-T, BNP-T, BNP-T, DOL-T, SJ-T, BBD.B-T, BYL-T, ARE-T, ING-N, ITP-T, ETFC-Q, KWH.UN-T, BUS-X, RY-T, AAPL-Q, META-Q, ACB-T, NTR-T, NFI-T, BCE-T, BAC-N, BAC-N, SHAK-N, HD-N, AX.UN-T, TV-T, XYL-N, HHL-T, WFG-T, KO-N, TTM-N, MS-N, MGM-N, WMT-N, UA-N, ZWE-T, HMMJ-T, HEJ-T, CXF-T, SHZ-T are stocks to buy or sell.
Today's 2% drop in North American markets, triggered by Trump's tariff tweets, is a short-term hiccup. The more noise we hear from him is finally taking its toll; the Dow is down 1,000 points in short term. There'll be more downside about 5%, but long-term we're okay. The market needs a sell-off of another 1,000 points, then it'll be calm and steady before we see new highs. We have a lot of steam left, but need to blow off stale air now. He doesn't see a recession in the near future, just a correction, which is healthy. The TSX has been faring better than the American markets lately. It's amazing there's been so much volatility in cannabis stocks when there hasn't gotten under way yet. There's a lot of eurphoria now; he's in a wait-and-see mode.
(Past Top Pick, May 10, 2018, Up 20%) Volumes are rising, the stock is coming alive and there's plenty of room for this stock to regroup. Those who have owned this since it's drop of the past few years will hold on now that it's starting to climb again, so they can get their money back. He still likes it.
(Past Top Pick, May 10, 2018, Up 5%) He liked their whole India play, though investors didn't at first. It's come off in the past year, but sees plenty of upside. Good to continue to own it and a great long-term play that will hit $100. But yes, Amazon is probably a threat to Walmart in North America e-commerce, though not India.
It's testing its 100-week moving average which is appealing. $45 would be its bottom, and it's currently at $48. It's currently an attractive entry point. US bank de-regulation helps and, for whatever reason, US banks briefly fell out of favour. Take advantage of it. (Analysts' price target: $60.56 )
Right now he does not want exposure. He does not like the risk of the sector. We need to see this commodity legitimized. HMMJ-T is a speculation, not an investment. After the next recession, companies with no earnings get obliterated.