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Six stocks for a difficult market: Reiterating the Fab Five (plus one) |
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| Jul 09, 2008 06:06 PM UTC |
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Tracked Blogger
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Via BloggingStocks:
Filed under: Nucor Corp (NUE), Freep't McMoRan Copper (FCX), Stocks to Buy, Potash Corp. of Saskatchewan (POT)  The U.S. stock market's summer doldrums continue. Wednesday saw the stock market register another data point of ignominious distinction: the S & P 500 entered bear market territory -- a drop of more than 20% from its October 2007 peak. One would like to make a case for a rebound for the S&P 500 and the DJIA, but current economic fundamentals (unfortunately) make a stronger case for the opposite: sky high gasoline and oil prices, declining disposable income in several income groups, rising inflation, the worst housing market in more than 15 years, the probability of additional, substantial mortgage-backed asset write-offs, more than 400,000 jobs lost in the first six months of 2008. The prognosis: tough times ahead for the Dow. Let's hope it holds psychological support at 11,000 or technical support at 10,750. If the Dow doesn't hold the above support levels ... well, let's not go there. Instead, let's focus on the positive. Are there any decent plays in these difficult times for the market and economy? There are, for investors who can tolerate moderate risk or high risk, and who not interested in a short-term trade of six months or less. These are longer-term investments where the goal is a double-digit, average, annual, total return on equity over 3-5 years. Investors should also be capable of tolerating a 20-25% pull-back. Continue reading Six stocks for a difficult market: Reiterating the Fab Five (plus one) Permalink | Email this | Comments<map name="google_ad_map_145-1250727"><area href="http://imageads.googleadservices.com/pagead/imgclick/145-1250727?pos=0" shape="rect" coords="1,2,367,28" /><area href="http://services.google.com/feedback/abg" shape="rect" coords="384,10,453,23" /></map> 
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