Thursday, May 17, 2012

Correction Underway

The market was down again today with a 156 point loss to close at 12,442.  It has dropped 11 out of last 12 days.

Yields are getting juicy and bargains are starting to appear.

Among the beaten down that I have my eye on: EMR $46.19 (3.46%), AFL $39.82 (3.31%), BP $37.50 (5%), RDS.B $64.75 (5.21%)

Mining stocks have been hit very hard.  BBL has been down over 10% over the past week and currently sits at $54.09 (4.07%).  FCX down has also been punished and closed at $32.17 (3.89%).

Facebook IPO is tomorrow.  I will be passing.

No comments:

Post a Comment