These are the stocks that are passing at least three of my five filters, for the week of October 27. There were no IBD Supply/Demand stocks this week. There were only two IBD top-ranked stocks.
|Symbol||Top Ranked||Zacks||PEG||SuppDem||VL||IBD Stock checkup|
Perrigo Company (PRGO) is back on the core list. It develops and manufactures OTC and prescription pharmaceuticals, as well as nutritional supplements.
Core list (with n of 10 weeks passing):
|moving down this week|
|moving up this week|
|new this week|
I thought that the S&P might fall beneath its average P/E of 17.0, but it bounced off of 17.1 and has headed back up to 19.30. Markets continue to struggle and certain sectors are looking more appealing. I have been looking at mining and metals stocks trading below book value. I still haven't seen the technical indicators showing a real strength here, so I am willing to wait.Some of you have asked where I am putting my money since I have been emphasizing the short side of things. Let me start with the one that didn't work out: Exxon/Mobil. My calls evaporated along with fears of an even higher oil market. The one that did work out was puts on Simon Property Group. I sold puts when the underlying was at $90, and it had the nerve to rise to $93. This stock was bound to fall, though, because it is a Real Estate Investment Trust (REIT) in California commercial real estate. I figured last fall that it would fall because of falling California real estate prices, as well as eroding business margins. It's down to $54.
Have the markets fallen enough, so that they are ready to rise again? I'm going to wait until the charts tell me that this is so. I might still come in too early or too late, but I believe that we normal mortals with no psychic abilities may be able to profit when a trend has reversed and is well underway.