Welcome to the stock market correction. At the rate we're going, we should tag at least a 7% drawdown in the Nasdaq 100 to 14,600.
As I explained last week before the Fed meeting ended, I was looking for an expansion in volatility and a break of the 9/20 lows...
September Swoon Just Getting Started: Dial In Your Buy Targets
That swoon resumed yesterday with another gap down and a -2.86% drubbing for the big-cap Tech index.
In the video that accompanies this article, I reiterate my downside targets for the NDX and the S&P 500.
Plus, I share my ideal buy ranges for several blue-chip growth stocks like NVIDIA NVDA, Shopify SHOP, and The Trade Desk TTD.
I also explain why I'm staying long a particular 3X bearish ETF on the Nasdaq 100 and how I plan to flip out of it into a 3x bullish ETF.
I'm actually excited about the buying opportunities that could arise if the Nasdaq 100 makes a full 10% correction down to 14,000.
And I want investors to know how to get the bargains they envision in some of my other favorite stocks like Square SQ and Advanced Micro Devices AMD.
The way you do it is by having a plan and being ready to outsmart the lightning-fast algo stop-hunters.
Since the algos will be hunting for a Red October whether we like it or not, you might as well plan ahead and let them help you buy your favorite stocks on sale.
Disclosure: I own shares of AMD, TTD, NVDA, and SQ for the Zacks TAZR Trader portfolio.
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Advanced Micro Devices, Inc. (AMD) : Free Stock Analysis Report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Shopify Inc. (SHOP) : Free Stock Analysis Report
Square, Inc. (SQ) : Free Stock Analysis Report
The Trade Desk Inc. (TTD) : Free Stock Analysis Report
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