Defensive Issues Rule
With the techs once again folding their hand on
the recent rally attempt, money that is left on the table continues to
gravitate toward defensive stocks.
Stocks that deal in consumer staples such as food, which are likely to not
get badly affected if we get into a recession, are among the few positives on
Tuesday.
Adoph Coors
(
RKY |
Quote |
Chart |
News |
PowerRating) continues to make progress, forming a
trading range near its highs. RKY broke out from a six-month base two weeks
ago and has been stair stepping higher since then. Volume on price surges has
been a positive sign, suggesting that we could see continued follow-through.
Extreme caution is warranted, however. In bear markets, the
carnage characteristically hits all groups.
Until Wednesday,