How hated do stocks have to be before they are too hated?
What has to happen to make it so they are liked again?
For everything involving retail it is simply one and wait. Most of the quarters we got in retail were actually good but it didn't matter because the declines had much more to do with "last good quarter" than what the companies said.
One and wait will rebut the last good quarter and bring in a ton of buying.
Think of it like this. The gloom is so thick that Cisco's (CSCO) incredibly positive report meant nothing, nothing at all.
Which puts huge pressure on Salesforce (CRM) next week with a belief that Salesforce will shave its forecast.
I have no particular insight to Salesforce but it would seem difficult for them to guide soft given the strength they were seeing seven weeks ago.
Meanwhile Amazon (AMZN) and Alphabet (GOOGL) are the two that I think could be doing better than people think. Amazon should have a big holiday and Alphabet seems more willing to bite the bullet on what's been wrong, like the Google cloud.
I think they are both buys.
The one thing I wouldn't count on? Anything from Apple. I believe they are sticking by their guidance from the last quarter despite all of the negativity and the calls about the implications of the Skyworks (SWKS) and the Qorvos, etc.
I actually think, at 12 times earnings, Apple might be intriguing to those who sold it higher.