Market Wrap-Up for Nov.9 (ABX, AU, MOS, CF, WFC, PNC, more)


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There was a recent CNN/Opinion Research Corporation survey out that said 75% of Americans are unhappy with the direction of the country.

The Federal Reserve's move for a second round of quantitative easing is intended to help keep stock prices going higher, and interest rates locked in at historically low levels. You would think that the sentiment would be starting to improve somewhat, since we are up over 85% on the S&P since the March 2009 lows, but yet many Americans are still unhappy with how things are shaping up for the economy. I continue to believe efforts to create new jobs are going to be the real foundation of what will truly turn sentiment around. The ironic thing for corporate America and investors is that the current situation is actually helping companies regarding profits. There is a "do more with less" mantra that has taken shape across numerous industries. Margins remain robust for plenty of companies we follow, helping push stock prices higher, as well as dividend payouts and stock buybacks (not our favorite use of cash, but Wall Street goes gaga over it). The best thing we can do is to continue to invest in companies that will continue to thrive if things remain as they are now.

Practice fiscal discipline as much as possible. If you can hustle more and make some extra coin at work, don't hesitate to grab the opportunity to make some extra bucks. You can also try starting your own business. There are plenty of ways to do so without putting the family's financial foundation at risk. Many of you have skills that can lend itself to some freelancing/consulting opportunities. Aside from that, the retail space continues to be an area that needs good talent to fill in the gaps. Getting a second job should not be overlooked if you can find a way to juggle your career and family obligations. I know that from experience, as our company continues to make the sacrifices and do the things necessary to build our brand further.

Looking at today's markets, gold prices surpassed the $1400 price levels early on as traders continue to chase the hot commodity space, but sellers came in this afternoon to turn things lower. AngloGold ( AU ) and Barrick Gold ( ABX ) watched the early pop disappear by the close. We also saw Mosaic ( MOS ) and CF Industries ( CF ) give back a decent chunk of today's gains by the end of the session as well. We have a couple of commodity-related names on our recommended list, but for the most part, the area is better suited for short-term traders that can navigate in and out of the commodity space on a daily and weekly basis. Recent gainers in the financial space like Wells Fargo ( WFC ) and PNC Financial ( PNC ) saw some profit-taking.

We continue to look for potential new additions to our recommended list, but are also considering some downgrades.

I'll continue to keep everyone posted on my new book, which is slated for a 2011 release. It is in the editing stages now, and could be ready for an e-book launch as the new year begins. The print version is tentatively scheduled for May 2010. Don't forget to check out new Investing Videos section as well as a couple of video links below to see our latest work. 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!

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Stocks
Referenced Symbols: ABX , AU , CF , MOS , PNC , WFC

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