The typical upswing in buying we see on Mondays didn't really
take shape until late in the day, as the markets were able to come
back from a mid-day drop.
We removed three dividend plays from our recommended list
earlier, so be sure to check out the post below if you did not read
the e-mail alert we sent out this morning. We are continuing to be
proactive as far as out Best Dividend Stocks list is concerned.
Subscribers continue to ask about BP Plc. (
) and our downgrade weeks ago on the initial news of the oil spill.
We continue to monitor the situation, but are still holding off on
the name for now.
As for today's topsy-turvy action, commodity-related plays
continued to drift lower here and it sure does feel good to
side-step the big downturn that has occured recently. Leading the
way lower today were names like Massey Energy (
) , U.S. Steel (
) , Peabody Energy (
) , and Freeport McMoran (
) . Many of these names have low dividend yields as well, and lack
the support that other higher-yield names can often achieve.
Elsewhere, the financial sector was able to bounce off intraday
lows as Goldman Sachs (
) and JP Morgan (
) found some buying suppo. On the earnings front, investors were
not excited about the numbers this morning from Lowe's (
) , which closed down by 3%. Volume finished at 5.92 Billion shares
on the NYSE, about the same as Friday, while the NASDAQ traded 2.31
Billion shares, a drop from the 2.51 Billion shares we saw on
We will continue to monitor the market environment and keep
investors posted on how to best maneuver through the ups and
Be sure to visit our complete recommended list of the
Best Dividend Stocks
, as well as a detailed explanation of
our ratings system here
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