Market Wrap-Up for Jan.13 (MRK, INTC, MTB, MEE, X, MS, more)

in Gold Gold Investment by admin — January 13, 2010 2:29 pm | no comments

Buyers were able to ignore yesterday’s sell-off and came back in this afternoon pushing stocks higher. Positive Wall Street calls helped lift Merck ( MRK ) , Wyndham Worldwide ( WYN ) , and Joy Global ( JOYG ) . The financials also resumed the recent leadership role, led by JP Morgan ( JPM ) , M&T Bank ( MTB ) , and Morgan Stanley ( MS ) . Commodity-related shares like CF Industries ( CF ) , U.S. Steel ( X ) and Consol Energy ( CNX ) all recovered from earlier lows to avoid closing in the red. We saw some of our recommended plays like Massey Energy ( MEE ) , H.J. Heinz ( HNZ ) and Intel ( INTC ) getting upgraded this morning by various Wall Street firms. We are not ignoring yesterday’s sell-off, but we are still maintaining the current recommended list at this moment. We are constantly looking for clues as to how to maneuver through each phase of the market. There will be times when we remove well-known dividend plays and at a minimum that will mean we advocate no new money into these dividend names. Dividend investors are not fans of selling out of positions and we are aware of that, so we urge no new funds go into names that we do remove. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here Buet