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When the stock market dips, prudent investors make a shopping list of stocks to buy.
After the publication of “How one investor sidestepped this week’s stock-market decline,” I have been getting requests to name the top blue-chips to buy on a dip. Let’s explore with a chart.
Please click here for the annotated chart of S&P 500 ETF SPY. Similar conclusions can be drawn from the charts of Dow Jones Industrial Average DJIA, Nasdaq 100 ETF QQQ and small-cap ETF IWM. Please note the following from the charts:
The chart shows the support zone.
• Regarding long-term thinking, it is better to think in terms of a support zone and support levels within that zone.
• Most of the accumulation should take place near the low end of the support zone.
Ask Arora: Nigam Arora answers your questions about investing in stocks, ETFs, bonds, gold and silver, oil and currencies. Have a question? Send it to Nigam Arora.
Blue-chips to buy
Based on the six screens of the ZYX Change Method, here are six blue-chips that investors may consider putting on their shopping list for the long term: Alibaba BABA, Boston Scientific BSX, Citigroup C, Facebook FB, Intel INTC and Walmart WMT.
From a long-term perspective, stocks are very expensive. Sooner or later we will see a bear market. In a bear market, stocks may fall below the support zone shown on the chart. For this reason, investors may consider the following:
• Scaling in small tranches.
• Proper position size that is less than the full core position size.
• Hedges at the appropriate times.
• In due course, taking partial profits.
• Surrounding the very long-term core positions with trade-around positions on the same stocks. This technique can often double the returns and lower the risk.
• Sophisticated investors may consider selling put options at prices they want to buy these stocks. This way they collect premiums while they wait to accumulate these stocks….Read more at MarketWatch.
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