Don't look now, but we are back over Dow 11K, despite the
continuing deterioration in the jobs market. The lack of big volume
gains as we continue to push gains higher does make me a bit
worried, not to mention nearly 90% of stocks now trading over their
50-day moving average. Keep this in mind as one considers getting
overly aggressive here.
Shares of Fortune Brands(
) and J.C. Penney(
) ran up on news two different private equity firms have
established sizable stakes in both companies. We may continue to
see this play out as some big-money players place bets on asset
prices reflating, courtesy of the Fed's printing press obsession.
The market was able to push aside a weaker-than-expected jobs
report out earlier today, with commodity stocks once again racing
I am watching the commodity/equipment space seeing lots of
fast-money investor interest. The names to watch there include
Deere & Co.(
) , Caterpillar(
) , Bucyrus International(
) , and Joy Global(
) . Outside of Caterpillar, which does have a 2% dividend yield,
none of the others offers much as far as an attractive dividend
payout. If you are looking for growth, these are certainly plays to
watch. We have been looking for a decent pullback to get on board,
but it certainly does not look to be happening anytime soon. If you
decide to venture into this space, be ready to be nimble, as these
names are quite volatile and are attracting a very skittish
momentum money crowd.
Looking ahead to next week, we will start to see some bigger
names reporting earnings results, including General Electric(
) , Intel Corp(
) , and CSX Corp(
) , just to name a few.
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weekend, as well as the latest
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