Fast Money Blog- 1/7/22

Happy New Year!

This week Wall Street saw profit taking in Dow and tech stocks. Once again Wall Street is reacting to the inevitable quarter point rate hike by the Federal Reserve.

If you’re a long-term investor with at least 1/3 of your portfolio in Dow stocks you have nothing to worry about; your portfolio will stabilize within 60 days.

Here are a few notable stocks in which profit taking occurred:

Apple, Inc. (AAPL)

Apple’s high for the week was around $182

and it closed on Friday, January 7th at $172

Microsoft Corporation (MSFT)

Microsoft’s high for the week was around $334

and it closed on Friday, January 7th at $314

Visa, Inc. (V)

Visa’s high for the week was around $225

and it closed on Friday, January 7th at $216

Just a reminder that 4th Quarter earnings are just around the corner and I expect very favorable outcomes for all of our Wealthy Investor long-term holds.

It’s important that you are patient and not greedy in the weeks before 4th Quarter earnings are disclosed.

Tyrone Jackson, The Wealthy Investor