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Peter Eliades, analyst at Stockmarket Cycles, told CNBC that although we have not yet hit market bottom, there are still a few stocks that look "interesting."
"We’re getting close to what could be a decent buying opportunity," said Eliades. "I wouldn’t say we're there yet, but we’re getting very very close to it."
Recommendations:
Schwab [SCHW
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]—"It’s a strong man amongst weaklings... Schwab is standing strong because they play things conservatively. What I would say, though, is that it might be a decent buy over the next week or so. But in order to remain positive, I believe it has to remain over a price of $14."
Netflix [NFLX
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]—"If incomes are down, people are out of work and there’s only a few entertainment sources that they can participate in the home and one of them is Netflix. I would say that I find Netflix interesting around $19.50 to $20, but I would not want to be a holder of it under $18."
Disclosure:
No immediate information was available for Eliades or his firm.
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