Excerpt from Barron’s quoting DataTrek co-founder Nick Colas:
…. “Still unclear is whether this is the beginning of a bigger swoon. Retail investors, for example, appeared to see Monday’s drop as a buying opportunity, with DataTrek Research’s Nicholas Colas noting Fidelity’s data of most-traded stocks like Tesla and Apple seeing twice the buys than sells. But Barclays U.S. equity strategist Maneesh Deshpande cautions those rushing to buy the dip. The selloff has been localized to frothier stocks but could morph into a broader selloff as the Fed makes its pivot to higher rates, especially against a backdrop where S&P 500 index valuations are still above prepandemic levels”….
Read the full article here on Barron’s!