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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: donald sew who wrote (1399)2/28/2001 10:15:38 AM
From: Paul Shread  Read Replies (1) of 52237
 
There are always stocks/groups that rise in bear markets, otherwise the A/D line would go to zero. <ggg> Consumer/tobacco/insurance/oil stocks have rallied in this one. The surprise has been defense stocks; UTX and MO are the only two Dow stocks trading near a 52-week high (am relieved to say I'm very long both). I'll be the first to admit it if I'm wrong, but I can't see MO tanking in a bear market; earnings are far too dependable, and it's too defensive a play. If it unwinds, I'd expect a substantial rally in the broader market, or at least the Nasdaq...
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