Market Strategists Split on ‘Buying Opportunity’ After Post-Thanksgiving Selloff

Nov 27, 2021

Market Strategists Split on 'Buying Opportunity' After Thanksgiving Selloff

Following the Dow Jones Industrial Average's (DJI) worst daily drop of the year, market experts were split on whether Friday was a good buying opportunity.

The index fell almost 900 points, while the wider S&P 500 (GSPC) index fell 2.27 percent.

Concerns over a new COVID type discovered in southern Africa led to market declines in energy, financials, and industrial equities.

On Friday, Simeon Hyman, ProShares Global Investment Strategist, told Yahoo Finance Live, "To the degree this isn't as huge as Delta was eventually, then I think maybe it's a little bit of a buying opportunity." "All of the economic data over the last month or so has been quite strong—I mean, the ISM Services index has reached an all-time high... Manufacturing was also quite strong. In addition, retail sales increased by 1.7 percent.

Other strategists are raising the alarm bells that danger is on the way.

"I don't think it's a good time to buy. This, I believe, is the first stage in a multi-step decline in the S&P 500", Ed Budowsky, a managing partner at Chapwood Investments, told Yahoo Finance Live (video above). "Because the market is so overvalued, this new version provides an excuse to sell off the market."

Chapwood went on to say that the market is in a good place "For several months, it has been overvalued by 31%. Going into 2022, there will undoubtedly be a negative trend.... This type of value is just impossible to sustain and justify over time”, remarked the strategist.

During Friday's abbreviated trading session, the Dow Jones Industrial Average fell more than 1,000 points at one point.

Concerns about further lockdowns and tougher restrictions led to a drop in travel-related stocks on Friday. In the meanwhile, stay-at-home trades have recovered: Zoom (ZM), a video calling software company, is up more than 7%. During the truncated trading session, Peloton Interactive (PTON), an at-home workout startup, rose more than 5%.

Concerns about further lockdowns and tougher restrictions led to a drop in travel-related stocks on Friday. Meanwhile, stay-at-home trades have recovered: Zoom (ZM), a producer of video conferencing software, was up more than 7%. During the truncated trading session, Peloton Interactive (PTON), an at-home workout startup, rose more than 5%.

On Yahoo Finance Live, BNP Paribas Asset Management Chief Market Strategist and Co-Head Investment Insights Centre Daniel Morris said: "I think it's a reaction to the uncertainty." He later added: "We clearly are going into the winter, and it does seem, at this point, anticipating the potential problems rather than waiting to see if they're confirmed."

Pfizer (PFE), a vaccine producer, hit an all-time high on Friday after a Citi analyst said the firm might provide a variation injection in 100 days.

Subscribe Our Newsletter

Warren_Buffet's_Company

Alexander

Warren Buffett’s Company Profited $4 Billion on a $6.2 Billion Japanese Investment

Warren Buffett’s Investment company Berkshire Hathaway generated an estimated $4 billion profit by acquiring stakes in five Japanese commodity trading companies.

Companies
fxcm office
Increased Volatility Generates $4.9 Million in Profits for FXCM UK

FXCM released its annual financials for the fiscal year ended December 31, 2020, reporting a net profit of over $4.9 million. This is important because the firm lost more than $1.2 million in 2019, indicating a 518.8% increase.

Companies
Get the ultimate solution: B2BinPay Get the ultimate solution: B2BinPay
Sponsored
Anna

Demystifying Black Box AI And Its Use Cases
AI has become widespread in various spheres, including healthcare, finance, etc. But how does it work? Learn what the black box AI is and what risks it poses.

discover
The Best Crypto Wallets of 2022: Top 5 Picks

Alexander

The Best Crypto Wallets of 2022: Top 5 Picks

2022 was a tough year for the crypto industry as the crypto winter and bear markets took their toll. After the collapse of huge and well-known crypto projects like the FTX exchange and the subsequent distrust of centralized exchanges, investors looked for alternative ways to store and manage their crypto assets.

Blockchain
Contact us bg

Contact Us

Contact the Liquidity Provider
for any questions and advertising inquiries

    Please fill out this contact form to get in touch with us

    / 3000

    By clicking “Get in touch” button, you agree to the privacy policy

    Successful!
    Thank you for your request.
    We will contact you shortly.
    Close

    Alexander

    What Is an Interest Coverage Ratio? How to Use This Financial Metric to Evaluate Company Health

    Interest Coverage Ratio Explained

    Hazem

    After-Hours Trading: Can You Trade After Financial Markets Close?

    After-Hours Trading Explained

    Alexander

    How to Scale a Crypto Exchange Business and Stay Competitive

    how to scale crypto exchange business

    Constantine

    Crypto CrypticStreet Review: The Future of DeFi and Secure Crypto Trading

    Crypto CrypticStreet Review: The Future of DeFi and Secure Crypto Trading

    Alexander

    Bitcoin Power Law Explained: How It Shapes BTC’s Long-Term Growth

    Bitcoin Power Law Explained: How It Shapes BTC’s Long-Term Growth

    Hazem

    Megaphone Pattern​: What Is It? How to Use It In Trading

    Megaphone Pattern​: How to Read & Trade with It

    Constantine

    Top 5 Liquidity Bridge Providers in DeFi

    Top 5 Liquidity Bridge Providers in DeFi

    Hazem

    Max Funded IUL Explained: Is It a Legitimate Financial Strategy?

    Understanding Max Funded IUL

    Alexander

    Tax Refund Timeline: When Will You Get Your Tax Return?

    how long does it take for tax refund

    Constantine

    Crypto Liquidity — What is it, and How to Measure It?

    What is Crypto Liquidity and How to Measure It?

    Constantine

    AI in Finance: A Game-Changing Trend Shaping the Industry

    AI in Finance

    Hazem

    5 Ways to Make Money with ChatGPT and Build Your Wealth

    Make Money with ChatGPT

    Constantine

    Top AI Companies to Invest in April 2025

    Top AI Companies to Invest in March 2025

    DeepSeek vs ChatGPT: Which AI Technology is Better For You?

    DeepSeek vs ChatGPT: Feature-by-Feature AI Tool Comparison

    Constantine

    Top Solana Meme Coins in 2025: Best Presales and Where to Buy

    Solana Meme Coins 2025

    Alexander

    How Renewable Energy Stocks Can Supercharge Your Portfolio

    How Renewable Energy Stocks Supercharge Your Portfolio

    SEC Crypto Regulations: What Financial Advisors Need to Know

    SEC Crypto Regulations: Insights for Financial Advisors

    Hazem

    The Cup and Handle Pattern – How Trade Using This Bullish Indicator?

    Cup and Handle Pattern – How to Predict Price Breakouts?

    Hazem

    Year-Over-Year (YoY): What It Means? How It’s Used in Finance?

    Year-Over-Year (YoY): How to Calculate Business Performance?

    Constantine

    What is WAGMI and NGMI? Understanding Crypto Slangs

    WAGMI vs. NGMI

    Alexander

    Litecoin Mining Guide: How to Get Started in 2025?

    Litecoin Mining Guide: How to Get Started in 2025?

    Constantine

    What is Thruster (THRUST): An Advanced AMM for the Blast Ecosystem

    Thruster (THRUST): How Does it Revolutionise DeFi?

    Constantine

    How Does Polymarket Work? Detailed Guide

    How Does Polymarket Work? Comprehensive Guide

    Constantine

    Coinbase vs. Сoinbase Pro: Which Platform is Right for You?

    Coinbase vs. Coinbase Pro
    liquidity-provider-logo
    • News
      • Stock Market Forecast
      • Stocks
      • Banks and Finance
      • Companies
      • Crypto
      • Forex
      • AI
      • Technology
      • DeFi
      • NFT
    • Articles
      • Crypto Payments
      • Trading
      • Crypto Exchange Business
      • Forex Business
      • Fintech
      • Liquidity
      • FinTech Awards
      • Blockchain
      • Investing
      • NFT
      • DeFi
    • More
      • Videos
      • Liquidity Providers List
      • Crypto Payment Providers
      • White Label Brokerage Platforms
      • Broker CRM Platforms
    [email protected]

    © 2024 Liquidity Provider. All Rights Reserved

    Privacy Policy Cookie Policy
    This site is registered on wpml.org as a development site. Switch to a production site key to remove this banner.