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It’s Time to Buy the Financials

I feel now is the time to buy the Financials.

This week, Nearly 60% of Financials fell to a 52-week low, 5th-most out of all days since 1990.

In addition, out of 7,300 trading days since 1990, Wednesday’s percentage of new lows among financial stocks is larger than 7,296 of them. (source: Sentimentrader)

So, Financial stocks are terrible. Which makes this the time to buy. The stocks are down and valuations are cheap.

With business booming and unemployment low, any recession forthcoming (2020?) would be slight.

And most stocks are down 20% to 25% already. We’ve already had a Bear Market. At this point even if there is a recession most if not all the bad news is already priced in.

When the market does rally again, Tech stocks and Financials should lead the way.

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