Amen on all of the above, Iso. Have been defensively positioned over the last couple of weeks. Long drugs, golds, utes, MO and WM, and I think that's about it. I toy with TXT from time to time - if we really get an economic recovery, I can't think of a company that is better positioned to benefit from it.
Utes look surprisingly good here, like they're basing or completing a correction; I'm betting that they'll hold up as a safety/dependability/high yield play, but am not sure what swings in energy prices could do to them. Have only 1/2 positions in AEP and D, so I hope they don't take off without telling me first. -g-
I think we have at least one more 600-1000 point down move coming in the Dow, and potentially a lot more than that. Looks very shaky here. 6000-7000 keeps coming up as an ideal target for technical and cycle/historical reasons, but maybe too many people have that target in mind. -g-
Best,
Paul |
