Markets Live: the Afternoon Trading Breakdown with D.R. Barton, Jr., and Shah Gilani

Today's markets live afternoon session was a wild one.

The Dow was up 4% in the first half of the trading day but was ultimately met with selling resistance midway through the day and closed slightly lower.

While that sounds concerning, the constant volatility we're seeing today is actually creating a multitude of opportunities to make fast profits.

Here's why our Markets Live experts - D.R. Barton, Jr., and Shah Gilani - think the market went down this afternoon - along with some of the top stocks they're looking to buy soon...

D.R. Barton, Jr., covered the S&P 500 and individual stock picks (1:30 p.m. ET)

  • D.R. predicts resistance selling on the S&P 500 around 2,800 because it's a 50% retracement to the market high before the corona crash.
  • If you're buying or holding onto any stocks now, D.R. likes big tech firms with wide moats:
    • AMZN, AAPL, and MSFT are his three favorites.
  • In the intermediate term, D.R. likes the homebuilders because he expects homebuyers to take advantage of historically low interest rates.
    • DHI is his favorite. PHM and TOL are the others to watch.
  • In the long term, D.R. thinks there's money to be made in the airlines since they've been beaten up so much lately.
    • He's not buying today, but his favorite airline is LUV because it has limited international exposure compared to DAL, UAL, and AAL.

Shah Gilani on the second-half sell-off and two stocks he's looking to buy soon (3:45 p.m. ET)

  • Shah said he likes VIAC at these levels (around $14.75) and will probably buy some tomorrow if it opens lower.
    • Fundamentally, Shah thinks the company is in good shape to service its debt because it has ample cash on its balance sheet.
    • Shah loves the 6.5% dividend yield and doesn't foresee the company cutting that anytime soon.
    • You can "average down" into VIAC - buying some now and buying more when it goes lower, only putting a little bit of capital to work at a time.
  • Shah also likes WFC because it's been so beaten up by Wall Street recently.
    • Unlike BAC, GS, and other large-cap banks, WFC is the cheapest in terms of its price/earnings. That gives it higher probability of going up compared to the rest.
    • Shah also noted the high short interest position on WFC and believes that will become a catalyst when those shorts are forced to cover their position if the stock moves higher quickly, like he expects.
    • Shah also plans on implementing the same "averaging down" buying strategy with WFC.

Catch us tomorrow - starting LIVE again at 8:45 a.m. ET with Chris Johnson, right here.

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