Today’s news: Invesco (IVZ) and Goldman Sachs (GS) are closing in on price targets, plus a list of great stocks to buy today.
Invesco (IVZ) rose to 36 today. The stock is fairly valued. I’ve been assessing whether to sell at 36 or wait for the stock to retrace its early-2015 high of 38. Earnings estimates are increasing slightly from the recent purchase of Guggenheim’s ETF assets. In addition, financial stocks continue to act bullish. Therefore, I’m going to hold IVZ with a goal of selling at 38. (P.S. There’s no need to wait for my sell signal on that. Put in a limit order at 38, so that you don’t have to stare at the market in the days leading up to that price.) Hold.
Goldman Sachs (GS) is fairly valued and rising toward my price target of 250, where I plan to sell. Again, put in a limit order at 250 so that you can be one of the first sellers at that price, rather than waiting to read my Sell recommendation in the coming days/weeks. Hold.
Stocks that look good for purchase today: Weyerhaeuser (WY), KLX Inc. (KLXI), Nucor (NUE) and Apple (AAPL), in that order.
Continue to raise cash, up to about 20% of your stock portfolio, so that when the next market pullback comes along, you can go shopping!