And waiting for Consumer Companies to release Q3 results.
We just had a synthetic increase of 900 points on the Dow. Well, it's like a rubber band snap. The nose dive was based on fear, so this is just an elastic snap of folks saying, "whew, I was scared of nothing."
Nothing is going to turn into something over the next week when consumer Companies such as Johnson & Johnson release their Q3 earnings.
We shall wait and see what happens.
3 comments:
I'm afraid the snap back will be deep. I have to listen to the Q3 reports and I do not expect good things from the sectors I will monitor.
What sectors do you monitor? I was surprised, J&J did great; however PepsiCo is slashing 3,000 jobs? That's crazy.
This quarter I'm doing consumer staples, media and energy/utilities. I may also do some other sectors if coverage is needed. While I love the markets, this is only a temporary gig for me and I'm looking to practice law again.
With J&J it was a toss up. Their profits were largely based on consumer staples and medical devices. Consumer staples are a fairly clear area to me when you look at their product line up but medical devices are always a bit iffy to me because of the changes in technology.
While it is not applicable to everything, I tend to believe Warren Buffet is correct and I apply his investment motto to my investments and how I see companies. If I do not use the product or understand it then I avoid it. When it comes to J&J, even though they have had some troubles in the research stage, etc I have tons of their products.
Um, just realized how long this is. Sorry about that.
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