- Whew, what a day for the market. Negative reports for Home Depot, Alcoa, Sears, D.R. Horton (this one no big surprise) and others. Take high energy prices and the subprime issues worsening over time and we have something to watch. The next couple of weeks will be very telling about the health of corporations, the consumer, and the markets.
- LEH is getting very close to a point where we will average down. From here, any big intraday drop amounting to 2% or more decline would be a good place to average down. This stock is really undervalued here.
- As we mentioned, one additional pick this week is highly probable. We do not want to push anything if we can get some weakness, especially if our screener points at better upcoming bargains.
|
