EXCLUSIVE: Buy The Dip — There's A Lot More Upside To Come, Says Marc Chaikin
Portfolio Pulse from Neil Dennis
Marc Chaikin, CEO of Chaikin Analytics, remains optimistic about the stock market despite a shaky start in 2024, suggesting there's more upside to come. He believes opportunities lie outside the 'Magnificent Seven' tech giants, particularly in the S&P 500 stocks. The SPDR S&P 500 ETF (SPY) mirrors the index's performance. Chaikin's Power Gauge rating turned bullish on Pfizer (PFE) and he recommends selling Eli Lilly (LLY) due to its high P/E ratio. He favors stocks in industrials, consumer discretionary, financials, materials, and selective tech, highlighting Boise Cascade (BCC) and 3M (MMM) as his current favorites.
January 04, 2024 | 7:29 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Boise Cascade Co (BCC) is a mid-cap stock favored by Marc Chaikin, indicating a positive outlook for the company's stock.
Chaikin's preference for BCC as a mid-cap stock to watch suggests optimism for its growth, which could lead to increased investor interest and a rise in stock price.
CONFIDENCE 70
IMPORTANCE 65
RELEVANCE 70
POSITIVE IMPACT
3M Co (MMM) is liked by Marc Chaikin despite ongoing lawsuits, with a high dividend yield and potential upside from its current price.
Chaikin's positive take on MMM, highlighting its dividend yield and price recovery potential, could attract investors looking for value, possibly driving up the stock price.
CONFIDENCE 70
IMPORTANCE 65
RELEVANCE 70
POSITIVE IMPACT
Pfizer Inc (PFE) has turned bullish on Chaikin's Power Gauge, indicating a positive short-term outlook for the stock.
The bullish rating on Chaikin's Power Gauge for PFE suggests increased investor confidence and potential stock appreciation in the short term.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
SPDR S&P 500 ETF (SPY) is down 1.1% since the start of 2024, but Marc Chaikin believes the S&P 500 has more upside, which could positively impact SPY.
Chaikin's positive outlook on the S&P 500's potential to reach new highs suggests a corresponding increase in SPY's value, given its direct correlation with the index.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Eli Lilly (LLY) surged 72% in 2023, but with a high P/E ratio, Chaikin advises selling, which could pressure the stock in the short term.
Chaikin's sell recommendation based on LLY's high P/E ratio could lead to a negative sentiment among investors, potentially driving the stock price down.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 80