Steve Wells, aka the Fear & Greed Trader, rejoins the Marketplace Roundtable Podcast to update listeners on his views of markets as reflected in the Savvy Investor service.
Recorded during one of last week's days of heavy selling in global equity markets, Wells conceded the coronavirus is "a real event." In general terms though, the market was due for a pullback and Wells is not overly concerned about the big picture. The long-term bullish trend remains intact.
The key is for investors not to get overly emotional over short term moves -- and moving averages. Only if the S&P 500 were to approach levels around 2940 would there be reasons for concern. (The low in the S&P was around 2954 on Feb. 28).
Wells was on the podcast last summer, where he expressed bullish sentiments especially over Alibaba (BABA), Cisco (CSCO), Google (GOOG, GOOGL), Amazon (AMZN) and others.
He's still bullish on technology, health care, consumer discretionary, "and to some degree financials" and provided some favorite ideas for 2020.
Contents:

2:45 - Catch up on the last 6 months and view on today's market.

6:30 - Trend line discussion

10:45 - What level are you looking for?

17:00 - What concerns do you have regarding the Coronavirus?

21:45 - Bullish sectors and stock picks

29:30 - When would you look to add to your position in CRM?

30:45 - Time to take profits from BABA?


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