Ouch!

The market is getting hit hard today. The S&P 500 is down to 1176. The real problem is coming from cyclical stocks. The Morgan Stanley Cyclical Index (^CYC) is now down -3.36% compared with just -1.38% for the Consumer Index (^CMR).
On our Buy List, AFLAC (AFL) is now below $49 which is a very good entry point. Leucadia National (LUK) and Eaton Vance (EV) are also off sharply.
If you’re looking for income, Reynolds American (RAI) currently yields 6.75%. Gilead Sciences (GILD) is turning into one of the best buys on the Buy List. Some major pharma has to be looking at GILD for a buyout.

Posted by on May 4th, 2010 at 10:52 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.