Subscribe to RSSMarket Wrap-Up for Mar.9 (YUM, TM, COH, COF, TXN, UTX, more)
Despite the questionable economic environment for many, the stock market continues to ignore the somber news. Today is the 1-year anniversary of when the market bottomed during the sell-off that wouldn’t stop. The S&P average has rebounded over 70% from those bottom levels. We have gone nearly straight up since that time and that is what has us a bit worried. It’s hard to build a good foundation without a decent “backing and filling” effect, but the market has not listened in a sense. We continue to navigate the best way we know how and that is to keep on as much exposure as we are comfortable with, until we sense things will begin to get nasty. Chasing the tape here is a bit dangerous from where we stand. We will continue to be selective and “ride the wave” for now. As for today’s action, Yum Brands ( YUM ) did well on an analyst upgrade. Also doing well were names like Coach ( COH ) , Capital One Financial ( COF ) , and United Technologies ( UTX ) . On the downside today was Texas Instruments ( TXN ) which pulled in the reins on the company guidance a bit. Toyota Motor ( TM ) was down on negative Wall Street chatter. Volume finished at 5.18 Billion shares on the NYSE and 2.47 Billion shares on the NASDAQ. We’ll keep subscribers updated as to any changes we make to our “recommended” list as soon as we make them. In the meantime, enjoy the gains, but be careful to not lose your discipline. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .
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Market Wrap-Up for Mar.9 (YUM, TM, COH, COF, TXN, UTX, more)
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