The market had an early positive bias as we waited for
commentary from the Federal Reserve at 2:15pm EST today. The market
wasn't expecting any surprises and the reaction afterward was
Anyone that likes to keep a percentage of their portfolio
dedicated to active/trading ideas should watch
where Tom and I discuss how investors could profit from investing
with the herd and when it may be time to leave the party. Our main
focus is of course dividend stocks on our site, but I will share
any good nuggets I learned from my trading days that can help
active investors as well.
I read another potentially bullish data point from Market Rates
Insight today. The company summarized recent data from the
Department of Commerce and the Federal Deposit Insurance Corp.,
reporting deposits in domestic branches of FDIC-insured banks
reached an all-time high of $7.74 trillion, an increase of $1
trillion since October 2007, when they totaled $6.74 trillion.
People are indeed saving and that's a great thing. Now here's the
bullish part: at some point, money sitting in cash could certainly
begin looking for a better home. With older demographics developing
here in the U.S., investors will be searching for yield and income.
This will certainly be a positive for high quality dividend-paying
stocks, and could be a great foundation for investors to see solid
returns in dividend stocks for years to come.
Looking at today's action, this morning's earnings miss from
Best Buy (
) surprisingly did not spread to many other retailers. Financials
did pull back some after the Fed meeting notes were released.
Goldman Sachs (
) and JP Morgan (
) pushed lower. On the flip side, Wall Street analyst upgrades for
C.R. Bard (
) and Covidien plc (
) helped both stocks finish nicely higher. There was also a rise in
shares of Whirlpool (
) on the back of some takeover rumors making the rounds.
The website for my new book "Be a Dividend Millionaire" due out
in 2011 is up. Please check it out at
for more info. And as always, check out our industry-leading
Best Dividend Stocks List
for the top dividend names to put money into right now.
Thanks for reading, and I'll see you tomorrow!
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, as well as a detailed explanation of
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