Here’s my take on Meta ($META)…as well as the broader market – April 19, 2024
Dan Fitzpatrick here, StockMarketMentor.com. This is just a real quick one here today because there’s not a damn thing to do.
The market has been rolling over for a while, we’re seeing a lot of this ( NYSEARCA: SPY ), we’re seeing a lot of this ( NASDAQ: SMH ), we’re seeing a lot of this ( NASDAQ: NVDA ), it’s just an ugly deal out there. You have to embrace the ugly but that doesn’t mean you have to stay out on the date. You can get out of that anytime you want.
One stock that had been looking like it was okay was Meta ( NASDAQ: META ) here. Yesterday it didn’t have a good close at all, you knew what was going to happen, but still, it was looking okay. What it was really doing was, it was just lagging to the downside. So many others were a lot weaker and Meta ( NASDAQ: META ) was the last of the Mohicans, as far as these things going down.
Google ( NASDAQ: GOOGL ) is still hanging in there okay but this isn’t a chart for me. I don’t see any good charts, frankly, right now. I see a lot of “maybe’s” in the future but nothing now. And so this is the gist of this video, cash is a good thing to have, as long as you have it for a short-term. Long-term, if I pause this video for about 15 seconds I would tell you that you’ve just lost money in cash. Yes, the dollar is not a good thing, but better than stocks right now.
My suggestion is, you get out of stocks, be opportunistic and wait for your opportunity. I’m talking about being the lion as opposed to the gazelle. We’ve had a nice meal during the first quarter of this year, now it’s time to laze around in the shade, take a little nap, get rested up, digest the last meal that you had, and wait for the next herd of gazelles to cruise by. Then go out and get your next meal, but for right now, it’s time to rest not to hunt.
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