Michael Sincere’s Long-Term Trader: ‘I see buying opportunities.’ How this stock trader with 40 years of experience makes money in a bear market

by | Jul 14, 2022 | Stock Market

Howard Kornstein, a professional trader with more than 40 years’ experience in stocks, options and futures, developed and fine-tuned his strategies while facing every imaginable market environment. He has little patience for those who claim they can’t make money trading, even during the current bear market.  “This bear market is mild,” Kornstein says. “I see buying opportunities. Many people took money out of the market a few weeks ago as the market went down. Guess what? The market will go back up again, just like it always does.” 

Recently, he has been accumulating shares of Invesco QQQ Trust
because there was a significant selloff. “In the first week of July, the QQQ and SPY
were good buys,” he says. He stops trading, he adds, when “the casino or table is too hot.”   When will Kornstein sell QQQ? “When taking a trading or investing position, you must know when you’re going to sell before you even buy it. Based on technical analysis, I determined that $350 or above is my selling point for QQQ.” (Note: His target price could change in the future depending on variable market conditions.) Buy at the 52-week low Kornstein uses a simple stock strategy that has worked for decades. “I find an established company whose stock has dropped to its 52-week low and is making a U-turn. This means the stock is recovering. This i …

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