Good Time to Buy American
No one likes surprises, especially bad ones. After a raucous week of trading the stock market had decided that the likelihood of the U.K. voting to exit the E.U. was low. The shocking news of a exit vote by the citizens of the U.K. this morning is taking the market by storm.
As I mentioned in my article earlier this week on Brexit, one strategy to weather the storm is to focus on stocks with less foreign exposure, particularly European exposure. The uncertainty regarding the unprecedented path of one country divorcing its family will likely paralyze European countries for the next six months, perhaps longer.
Most of the stocks that I’ve recommended for both Growth Stock Strategist and Profit Catalyst Alert are U.S.-centric and derive the bulk of their sales domestically. I’ll be following up with more specifics but as with any riotous trading squall, I’d recommend sitting tight and not selling into this maelstrom.
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