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

B2Prime partners with cTrader

Tamta

B2Prime and cTrader Expand Trading Opportunities with a New Partnership 

B2Prime joins forces with Spotware to integrate its broad liquidity solutions of 200+ instruments into cTrader, one of the most successful trading software.

Companies
Musk Leaves Twitter CEO Chair

Milena

Elon Musk Leaves Twitter CEO Chair

The Twitter founder recently launched a poll in which people voted on his future as CEO. Here is what to expect next.

Companies
B2BROKER Liquidity B2BROKER Liquidity
Sponsored
Сonstantine

How to Choose the Right Liquidity Provider for Your Brokerage
In dynamic new financial markets, the right liquidity provider is not just a supplier — but the savvy counterpart who can chart the course of your brokerage’s growth, stability, and competitiveness.  With traders demanding instant execution, deep access to markets, and the ability to have multiple asset classes under one platform, the decision goes beyond […]

discover
9 Alternatives of MetaTrader 4/5 White Label Solution

Alexander

9 Best Alternatives of MetaTrader 4/5 White Label Solution

As MetaQuotes restricts MT4 white label solutions, brokers turn to other WL trading platforms. This article lists nine alternatives to MetaTrader white label.

Trading
Contact us bg

Contact Us

Contact the Liquidity Provider
for any questions and advertising inquiriesb2broker

    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

    Hazem

    MetaTrader vs cTrader: Which Trading Platform Shall You Choose?

    MetaTrader vs cTrader: The Full Breakdown

    Сonstantine

    Will Dogecoin Reach $1? Tokenomics and Price Analysis

    Will Dogecoin Reach 1 Dollar Analysis

    Сonstantine

    How to Get a Crypto Exchange License?

    How to Get Crypto Exchange License

    Сonstantine

    Best Crypto to Buy Now: Guide for Investors

    Best Crypto To Buy Now

    Hazem

    Grok vs ChatGPT: What’s the Best AI Assistant You Need in 2025

    Grok vs ChatGPT

    Сonstantine

    How to Choose the Right Liquidity Provider for Your Brokerage

    How to Choose the Right Liquidity Provider for Your Brokerage

    Сonstantine

    Low-Latency Trading Defined: Speed, Strategy and Technology

    Low-Latency Trading Explained

    Hazem

    How Liquidity Depth Affects Slippage in High-Volume Trading

    Liquidity depth and slippage in trading

    Hazem

    What is FIX API Liquidity Connection and How Does it Power Institutional Trading?

    FIX API in institutional trading

    Сonstantine

    OTC Trading Strategies and Technologies to Succeed in Over-the-Counter Markets

    OTC Trading Strategies

    Alexander

    What is OTC Trading? A Complete Guide for 2025

    what is OTC

    Alexander

    Synthetic Futures: A Trader’s Guide to Replicating Positions with Options

    How to Trade Synthetic Futures

    Сonstantine

    Order Book Depth: What It Is And Why It Matters?

    Order Book Depth What It is And Why It Matters

    Alexander

    Spot vs Perpetual Futures: Which Is Right for You?

    Spot vs Perpetual Futures explained

    Hazem

    5 Reasons Traders Are Switching to Perpetual Futures

    5 Reasons to Switch to Perpetual Futures

    Constantine

    Top 3 Liquidity Challenges Facing New Exchanges and How to Solve Them

    Top 3 Liquidity Challenges Facing New Exchanges Today

    Constantine

    Financial Planning in the Cryptocurrency Era — Master Crypto and Digital Asset Strategies

    Financial Planning in the Cryptocurrency Era

    Hazem

    Best Platforms to Trade Perpetual Futures in 2025

    Best platforms to trade perpetual futures in 2025

    Alex

    Top 10 Fintech Website Development Agencies for 2025

    Best Fintech Website Development Agencies for 2025

    Сonstantine

    Internal vs External Range Liquidity In ICT Trading Explained

    Internal vs External Range Liquidity In ICT Trading

    Constantine

    Portfolio Backtesting — Tools, Metrics, and Methods Explained

    Portfolio Backtesting

    Сonstantine

    ICT Trading Explained: Smart Money Concepts, Tools and Setups

    ICT Trading Explained

    Сonstantine

    CFD Trading Strategies: A Practical Guide to Risk and Execution

    CFD Trading Strategies

    Alexander

    What is a Fair Value Gap? A Guide to Trading Market Imbalances

    What is Fair Value Gap
    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.