The sell-off seems to be accelerating, much like the chart of oil. I do see lower prices coming and I've been saying that for a while. I do NOT think 500 will hold in Google. However, I am remaining long and instead of selling, I'm simply adding to my position. I don't sell companies on price - only on fundamentals. And yes, there is a difference between taking profits and selling out of a position. Hold Google if you own and look to add more. It's starting to become a good value here.
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The brutal sell-off in MCD continues, this time dropping the stock to fresh 52 week lows. That mini-flash crash day was indeed a sign of terrible things to come and that has happened. The stock approaches correction territory in less than 2 weeks of trading. After hitting an intra-day high of 97.50 - the stock is now trading below 89 dollars, a huge break down. Can the important trading range of 88-90 hold? At this point it doesn't look like it will.
In early trading, oil attempted something of a modest rally - however, that has now been snuffed out and the sell-off continues. Oil is now lower by 1.5 percent and heading towards 55. Where this stops, nobody knows.
The S&P 500 has sold off with the general market on the oil rout nervousness - but has yet to dip below the all important 50 DMA - so as of now, nothing is 'broken'. That said - The 50 DMA is fast approaching and the selling would have to stop at almost the point we are at now or the chart *will* get broken. Basically, watch 200.
The sell-off continues in Google - as the down trend has not been broken - At this point it's a question of whether or not 520 will hold. If the general market selling (including oil) continues into next week, it won't hold. However, I'm a buyer below 520 for sure. Buy.
The sell-off has hit McDonald's very hard and it threatens to bring the stock out of a long term range of 90 -103. Can the stock hold 90? My guess is no - based on momentum and recent trader chatter that MCD is 'out of favor'. Watch 90 - Buy at 88.
The range didn't hold as I guessed it might not. The important thing to remember about dividend stocks is the dividend yield rises when the stock prices falls, so it becomes more attractive. Look to add T near 31. Buy.
Cop keeps falling with the price of oil, which is to be expected. However, unlike oil - COP pays a handsome dividend - now in the 4.75 range - very nice indeed. This stock will soon find a bottom.
The wedge pattern is Apple was broken to the downside - resulting in a down channel for the stock. Watch the 50 DMA for support at 109. If that holds, the stock could quickly return to new highs. If not....
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