April 16, 2024
Five Stocks You Need to Dump Right Now

Five Stocks You Need to Dump Right Now

Shah Gilani Mar 03, 2023

Markets have been a mixed bag this week, in the usual “push me, pull you” action we’re familiar with by now. It’s a battle of the same warring narratives – how high will the Fed push rates, how long will they keep them there, will they overdo it and push us into a recession, ad nauseam. We’ve heard it all before.

I’m a bit concerned about a market downturn, not just from the obvious signals, but because I’m tracking a lot of things that don’t usually make headlines or get talked about a lot. One of those things are buybacks – or rather, the suspicious gap between buyback authorizations and actual buyback volume.

If this key pillar of market support doesn’t materialize this year, it could be a bad sign. You can read all about that in this week’s Total Wealth column.

In my live show this week, I asked you to send me stocks that just posted earnings, so I could comment on where they might be moving next based on how those calls went and give recommendations.

Well, let me tell you… it was a bloodbath. Here’s the thing: a positive earnings report isn’t always going to create an upward surge, and an earnings miss doesn’t always create a buyable dip. Of the seven stocks I reviewed, five of them were serious trash, and you need to get out of them now if you own them.

To catch the broadcast, just click the image below:

(Yes, that is really me in suspenders. You’re not likely to see that again anytime soon, so that by itself is a reason to watch the video.)

We’ll be back next week with another episode. See you then!

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