Morning Report Wednesday 21 May 2014
While I continue to anticipate a decent pullback in the coming weeks, which is currently unfolding as expected, not all stocks will fall. Last night, the Dow fell to its lowest level in 3 weeks and the ASX200 yesterday made a 4 week low, 3.1% below 2014 highs. However, during this time, a few stocks that I watch have rallied / not fallen and look solid at these levels even considering I believe the overall index has further to fall. A number of our members have asked what I would buy now especially as I may be wrong and markets could go higher as opposed to retracing some of the recent major gains. I have repeated, “be patient” recently with regard to buying stocks in general but if I was 100% in cash I would clearly consider one, or some of the below, just as I have.
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