Our October 2023 stock and ETF watchlist with entry points, sector analysis, and market outlook.
Market Overview
Welcome back to The Wealth Catchers' watchlist. This will be another VERY short intro, it's been an incredibly busy month to say the least. September has brought more pain to investors' portfolios as we watched all the indices end the month in the negative. As I mentioned in September's Watchlist, the month of September has a notorious reputation for providing negative returns. The highlight of this is that with these past two months there is now a great buying opportunity for the indices and for individual companies. Keep in mind as investors you always have to be on the lookout for opportunities. You essentially need to take advantage and thrive in chaos. Keeping yourself abreast of what's happening in the economy and how the consumer is being squeezed and the Fear and Greed index flashing "FEAR" gives you an advantage. Don't allow yourself to become distracted by the noise. The information and data is right there, and it's present in your everyday life. It's harder to get access to capital now. You may have family and friends that aren't getting approved for credit cards or loans that they usually would be approved for. You may have heard the complaints of coworkers of how difficult it is to make ends meet or discussing the expensive cost of goods. It's all right there. The most important question is, where do YOU fit in all of this? Are you in position to take advantage of the selloffs of assets? Are you financially prepared for a downturn for the next 6-9 months if something happens to your income? Or, if you're not prepared, what can you do to not end up on the wrong end of this situation WHEN it happens again, cause it will, it's the economic cycle. You won't find the answers overnight, or next week. But you can start a chain of positive decisions that will help you develop the right path. Assets will be bought, assets will be sold. Position yourself to be the buyer when no one wants to buy and become the seller when everyone wants to buy.
Fed & Monetary Policy
***The Fed didn't raise interest rates, as expected. According to the FedWatch Tool there's an average of 34.8% that the Fed will raise interest rates at one of the next two meetings. Remember, Powell has said that there WILL be another interest rate hike before the end of the year. Lets see if he sticks to his word
Monthly Performance
At the close of month here are how the indices performed:Dow Jones (-3.27%)S&P 500 (-4.64%)NASDAQ (-5.72%)Russell 2000 (-5.07%)At the close of the month of August the VIX was at 17.52. At the close of the month the "Fear and Greed" index was at 28 fear in the market.
Crypto & Digital Assets
Closing Note
Appreciate you checking in during this pull back and here's your friendly reminder:
“The time to buy is when there's blood in the streets.”
Keep on buying assets, there's always a bull or bear market somewhere. Keep your money working.
Index Performance
| Index | Performance |
|---|---|
| Dow Jones (Sep 2023) | -3.27% |
| S&P 500 (Sep 2023) | -4.64% |
| NASDAQ (Sep 2023) | -5.72% |
| Russell 2000 (Sep 2023) | -5.07% |
Top Sectors
Bottom Sectors
Stock Entry Points
| Ticker | Daily Entry | Weekly Entry |
|---|---|---|
| NKE | $102 | $95–$113 |
| MSFT | $285–$297 | $255–$287 |
| AAPL | $155–$167 | $137–$161 |
| TSLA | $206 | $165–$203 |
| NVDA | $284–$420 | $161–$254 |
| NEE | $55–$60 | $50–$55 |
| META | $209–$288 | $213–$244 |
| AMZN | $111–$128 | $111–$126 |
ETF Entry Points
| Ticker | Daily Entry | Weekly Entry |
|---|---|---|
| VUG | $250–$278 | $229–$259 |
| VOO | $379–$403 | $340–$393 |
| VGT | $379–$429 | $323–$384 |
| SMH | $127–$145 | $101–$127 |
Key Takeaways
- →September 2023: Rising Treasury yields (approaching 5%) drove broad market selloff.
- →Rate-sensitive sectors (Real Estate, Utilities) hit hardest by "higher for longer" Fed.
- →NEE approaching historically oversold levels — dividend growth concern may be overblown.
- →"The time to buy is when there's blood in the streets." — multiple oversold setups present.
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