Back on January 20th, in my posting What Stocks Are Doing Well?, I said “So is the strength of the S&P 500 deceptive? Are ‘the generals’ quietly retreating from the battlefield? Yes, many are. And this could be the setup for a larger, longer-term selloff.
Except for one thing – the buying that is going on in companies with familiar names and oriented towards the consumer and a recovering economy.”
I showed the chart of Brinker International (EAT), which was up 39% since last summer, CVS, up 45% in the previous 12 months, Lowe's Companies (LOW), up 36% from a breakout in August, and even paint manufacturer Sherwin-Williams (SHW) up 50% since early 2014.
I concluded “All of these familiar-name stocks are under institutional accumulation. Don't go looking at Tesla (TSLA), the new darling of the financial press, for strong gains. Their stock actually is under distribution.”
That was two months ago. Has anything really changed?
Not with these stocks. Brinker (EAT) has traded sideways (currently down 0.2%), but CVS (CVS) is up another 3.9%, Lowe's (LOW) is up 10.2%, and Sherwin-Williams (SHW) is up another 4.2%.
Oh, and Tesla (TSLA)? That stock, with a Morgan Stanley analyst predicting a possible price level of $1,900 a share, has fallen 34% since early September.
Of course, there's much more you need to know and many more stocks you can capitalize upon each and every day. To find out more, please click on the following link: www.markettamer.com/seasonal
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