Before you buy stocks on the dip, you need to wait for this signal, according to this strategist.
President Donald Trump’s coronavirus press conference has not stemmed the global equity slide as world-wide infections climb and U.S. stocks have tumbled into correction territory.
“If you think it is essentially a short-term problem, a hit to growth, but then it is over by the summer, then you’re fine going into the market. But if you think it is worse than that, then you have to play that out,” she told MarketWatch. For average investors, it is OK to wait for more information, but also “take some risk off the table if you’re sitting on gains,” and don’t go overboard on buying perceived safe-haven assets, Levine said.The chart Here’s our chart from Goldman Sachs strategist David Kostin and his team, who predict the S&P 500 could drop to 2,900 from here if investors start to believe the coronavirus outbreak is spreading, but rebound to 3,400 by year-end.
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