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One of the best ways to spot opportunity is by looking for excessive fear.
In fact, it’s how some of the most famed investors made their money.
Sir John Templeton would tell investors to buy excessive pessimism.
Warren Buffett still advises that a “climate of fear is your friend when investing; a euphoric world is your enemy.” And of course, we all remember his advice to “be fearful when others are greedy and greedy when others are fearful.”
Baron Rothschild would tell investors, “The time to buy is when there’s blood in the streets, even if the blood is your own.” He knew that very well, considering he made a small fortune buying the panic that followed the Battle of Waterloo against Napoleon.
Look at Advanced Micro Devices (SYM: AMD)
If you pull up a two-year chart of AMD, you’ll see it’s oversold at double bottom support dating back to August. It’s also oversold on RSI, MACD and Williams’ %R. And it appears it’s attempting to pivot from its current price of $130.60.
Even Seeking Alpha just noted, “The current situation surrounding AMD has reminded me of the adage of being greedy when others are fearful. And I do see two particular reasons to be greedy in this case, 1) the stock’s attractive valuation, especially adjusted by growth and growth CAPEX, and 2) the improving inventory data.”
Intel (SYM: INTC)
Over the last few days, Intel was clobbered, falling from about $25 to $20.78 on fears it won’t be able to turn things around. However, we believe the fear is overblown here, too. It’s also technically oversold on RSI, MACD and Williams’ %R. It also appears to have caught strong support dating back to September and is starting to pivot higher.
Adobe (SYM: ADBE)
Adobe fell $75 this week on revenue guidance that fell short of expectations. But a $75 drop is overkill. Plus, analysts at Deutsche Bank maintained their buy rating but lowered their target price from $650 to $600.
“These results and guidance require a bit of faith in the full year next year,” said the firm, as quoted by CNBC. “We see tangible evidence that Adobe is one of few application software companies in our coverage successfully monetizing generative AI today.”
