The more I see stocks selling off to start the new year, the more I like this setup. What I mean is, the selling looks orderly and contained and this is what I look for when we want to ”buy the dip.”
In times of panic selling, we don’t want to buy the dip because the market will likely keep selling off. But when it’s selling like today, the overall upward trend Looks to be intact. That doesn't mean the selling will stop on a dime, but it doesn't look like a panic.
With the GA runoff election coming up and the presidential transition of power, there will be more Fireworks like today but the downturns, at least so far look short term and driven by the cable news cycles, rising Coronavirus cases, politics, etc.
This is what it looks like today near the end of the session. #TSLA is strong on solid sales numbers and there are a handful of names in the green. #GILD has been changing direction in the last few sessions and this was a safety name last near when the pandemic hit so not a bad time to get into this one.