Facebook Inc (FB) & First Solar, Inc. (FSLR): Major Opportunity To Buy
Alexander Wissel: The stock market has pulled back for two straight days, the pundits are breaking out their crash suits, and “dooms-day seers” are making the rounds of the cable finance shows.
Just Thursday of last week saw the Dow break 17,000 for the first time.
The broader indexes looked strong, investors seemed confident, and everything was going smoothly. Until it didn’t.
The tech-heavy Nasdaq pulled back 1.3% while the S&P 500 and Dow Jones Industrial Average each dropped 0.7%, and that was just yesterday.
So should we run screaming into the bunkers to prepare for the worst?
This kind of market pullback isn’t out of the ordinary, or unexpected in a strong bull market. Let’s not forget the ugly pullbacks in mid-April and late January.
The concern for many institutional investors over the past few days has been earnings. The question is whether companies will still be able to grow their gross sales income or “top line growth.”
Earnings drive the markets.
Earnings aren’t going to plummet – not yet anyways.
They might level off, but it’ll still be more than enough to keep the markets climbing.
What that means is that we should be using this opportunity to check out a couple of Nasdaq stocks in that have taken it on the chin over the past few days.
When I see broad market pullbacks, I want to invest in strength, size, and sizzle.
Why bottom feed when you can pick up some best in breeds?
Two of the hottest stocks – and one would say just as controversial – of the past few years have been Facebook Inc (NASDAQ:FB) and First Solar, Inc. (NASDAQ:FSLR).