U.S. markets closed

One Stock Opportunity Stands Out Despite An 'Overbought' Market

Daniel Laboe

I am buying SPY puts with varying expirations in this overbought market to hedge my positions, but I am not fully bearish because if I have learned anything these last 3 months its “don’t fight the Fed”. I will evaluate one strong pharmaceutical stock that may still have some robust upside potential.

For more color on why the markets continue to rally despite social and economic chaos, check out my article: 4 Factors Driving The Stock Market Higher.

These Stocks Are Poised to Soar Past the Pandemic

The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.

Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.

See the 5 high-tech stocks now>>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
SPDR SP 500 ETF (SPY): ETF Research Reports
To read this article on Zacks.com click here.
Zacks Investment Research