Recently Mark Hulbert canvassed his best perfoming newsletters and compiled a list of stocks they were recommending in common. It is above. We looked at it out of curiosity. Like the cat –curiosity is our bete noir –chat noir?) What we saw was a bunch of singularly uninspiring charts. PFE Pfizer might be of some interest — but not because of the chart. In general it may be said that these old warhorses have recovered somewhat, but the KO chart is probably best expressive of the group. A rectangle.
We would adopt this strategy if wanting to buy any of these, as we said, uninspiring, stocks. If you’re itching for trouble divide the capital you want to commit into three tranches or units and put half a unit in now. Wait until the November highs are taken out (JNJ,PEP,UTX) (December highs for WMT) to commit the next half or next unit.
Pfizer has a good dividend and sells addictive products — always a good bet.
We wouldn’t put much into it until it clears the horizontal line.
As we have said about the broad market we are unconvinced that the bear rally is more than that. Don’t these people realize the economic mess we’re in? Actually we think they don’t realize. We like our personal strategy of buying lottery tickets and Ford and GM for laughs, gold and silver for the coming epoch of using a wheelbarrow for a wallet.