Tuesday, June 20, 7:53 am EST. The major indexes popped to new highs yesterday. I had said that all this sideways consolidation action was resulting in market risk actually coming out, and that it was a sign of market strength. Little did I know that it would attempt to pop its head up above the consolidative sideways channel and hit new highs. It’ll be interesting to see if this is going to follow-through, and another new rally ensues.
By everything I had looked at, the stock market had been lulled to sleep, and was perfectly content to drift sideways. So, in case it wants to run again, it’s worth putting together a shopping list of potential buy candidates. I’ll be a buyer of more shares among these: AOS, ROL, ROST, OZRK, UNH, JKHY, CMCSA, AFG, ICE and SNX.
I’ve found a really good, new, safe-dividend grower! Check out Huntington Ingalls Industries (HII). It’s probably the greatest defense industry company you’ve never heard of before! I want some of this!
Another incredible up and comer is Kingstone, symbol KINS, in the insurance brokers industry. Want to take a safe bet? Add some, and hold forever!