Happy Monday everybody. Let's hope this week is far different than last week, but so far it doesn't look that way yet. Stocks are definitely getting beaten down to more attractive valuation levels though. So that's good I guess. Just goes to show if you're going to make money in stocks, it's a road of conviction - that's for sure. Buying good companies and sticking with them no matter what is probably always going to be the best strategy. You can speculate on smaller stocks, trade them, and even hold them on their way up, but at some point one has to determine whether or not the stock they've invested in warrants that buy and hold mentality, or if it's just something to trade for some quick profits. There's no one better strategy for investing or trading other than understanding one's goals, timelines and risk tolerance. If you can identify that within yourself, then you're doing better than most. It continues to look like the S&P 500 is gunning for new lows in the interim. Just where it's going to settle is the question a lot of traders and investors continue to have right now. What I do know is when you got back and look at the behavior of the S&P 500 over the last few months, the benchmark index tracking the world's most coveted companies came back after busting its 50 day moving average on four separate occasions. This time around though it not only failed to find any strength when it broke through it a few weeks ago, it has found itself below again. I don't think that's a good sign of things to come. I might be wrong, but that's just what I'm seeing. Small caps aren't helping either after the Russell 2000 bounced hard off its 200 day moving average a few weeks ago too. Now, it's cratered right through it busting all of the key moving averages in the process. Another bad sign. The good news is our suggestion of considering Snap Inc. (SNAP) a few weeks ago is actually one of the few stocks out there that has done well despite the recent market meltdown. Go figure, as the company continues to get lambasted by the financial media. Just goes to show what those guys know. The stock also looks like it could be in the process of developing a bottom, so it's worth keeping an eye on over the next several weeks. It still has a lot of work to do as a company - from a fundamental point of view - but it sure is trading better lately. I've just seen this type of thing too many times when it comes to Wall Street. They continue to spew their negativity until a point in time they've acquired enough of the stock to make them happy. Then the go out and preach the gospel turnaround story. Just look at what happened with GoPro (GPRO) a few weeks ago, same story - and I do think Go Pro will make a big comeback someday too. If this type of history repeats, it's entirely possible investors will end up wishing they had owned a little GPRO around $8 or $9 bucks. Nothing's ever guaranteed when it comes to the stock market, except that buying low and selling high is usually always going to be the prudent strategy in the end.