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Over the weekend, Warren Buffett held his annual Berkshire Hathaway Inc. (NYSE: BRK.A) shareholders meeting.
He revealed that the company liquidated all of its airline holdings and said it is possible for some stocks to take 10 or 20 years to recover back to all-time highs they made in the past year.
Despite that grim prediction, the markets eked out gains.
The S&P 500 started the day down about 1% in early morning trading. But it rallied throughout the day and closed 0.4% higher.
Tech stocks saw the biggest bids as the Nasdaq closed 1.2% higher.
Here's how our experts – Chris Johnson, Tom Gentile, D.R. Barton, Jr., and Shah Gilani – think investors should be positioning themselves today.
- Chris covered the financial and energy sectors in his live stream today:
- Financials have been one of the worst performing sectors over the last month. Chris sees that trend continuing given historically low interest rates. The high levels of debt around the world don't appear to be improving anytime soon, which isn't helping.
- Energy stocks have benefited from an irrational rally that has pushed many to overbought conditions. Oil prices ran into a reality check as WTI futures hit the 20-day trendline, clearly showing that traders are exiting positions.
- Here are two stocks Chris is bearish on in each industry:
- Bank of America Corp. (NYSE: BAC), currently trading for $23 – the stock broke below the 50-day moving average. Chris has a $20 price target on the stock.
- Kinder Morgan Inc. (NYSE: KMI), currently trading for $14.50 – even with the recent rally in oil, this stock never made it back to its 50-day moving average. Since it just dropped below its 20-day moving average, Chris put a $12 price target on KMI.
- Tom thinks the old "sell in May and go away" axiom could very well apply this month.
- Volatility is high, and investors would be wise to sell volatility by selling puts on stocks they want to hold long term.
- Tom is still bullish on gold and Bitcoin, and he thinks investors should be dollar-cost averaging into these positions.
- Tom also revealed his brand-new "Triple Threat Trading System."
- It's an exclusive two-month mentorship reserved for a small group of investors…
- You can sign up for the free event to learn more about how it works here.
- R. believes the S&P 500 completed the 61.8 Fibonacci retracement last week.
- That means stocks are facing serious resistance around 2,958 on the index, and we could soon be retesting the lows made in March.
- R. is not waiting for life to return to normal… and neither should you.
- That's why he just launched a new service to give you a competitive advantage – today – that can help you make 100% gains every nine trading days on average.
- Here's how to do it.
- Shah thinks the markets rallied today because the negative news hasn't materialized much worse than overall expectations.
- He thinks investors should remain cautious though, citing the same 2,958 resistance level in the S&P 500 caused by the 61.8 retracement.
Catch us tomorrow – starting LIVE again at 8:45 a.m. EDT with Chris Johnson, right here.
If you missed our live streams today, you can now replay them on our YouTube channel, here.
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