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Strategies & Market Trends : Longer-Term Market Trends
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To: AllansAlias who wrote (1927)10/20/2008 6:01:12 PM
From: Perspective  Read Replies (1) of 3209
 
Had somebody refer to HNZ and KFT as "cheap" so I had to check it out. They actually haven't given up much of anything yet, and given how much corporate interest rates have soared, they now look pretty expensive. Of course, what we care about here is the chart. Well, what does this look like to you? <g>



And this "cheap" one is backtesting the broken TL:




I'm pretty short JNJ. If it breaks up through, I'll step aside. But right now I see a lot of DJIA heavies that have worked off oversold conditions. I suppose the beaten down materials stocks could carry the ball forward, but if we need to wiggle around in a wave four some more, "cheap" consumer names like these could be the catalyst.

`BC
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