Thursday, January 14, 2016

Market volatility and BUD

The market is definitely acting volatile and retesting support from Aug/Sept 2015. We are at an interesting point in the market right now. We can easily see a big drop right now despite today's massive bounce. I was oddly thinking yesterday we could hit near 1875, although I never once thought it was going to be that day. Either way today's bounce is encouraging and I'm willing to nibble on stocks I want to buy.

So today I purchased more BUD. That's about all the alcohol stocks I need right now as I added to SAM and DEO last week.

Also I saw CHD was downgraded by Goldman Sachs the other day. I would love to buy this stock at a cheaper price. I had been eyeing it for a long time and finally broke down in early December. I wish I would have been more patient and I would have scooped up shares this week instead to start the position. I'm going to keep a closer eye on it the next few weeks and see where it goes. Also CHD competitor PG looks to be a good value here too. The stock seems to be holding up well. The same goes for tobacco stocks. They are still on the list of  potential adds to make in what continues to be a volatile January.

I almost pulled the trigger on another stock(GPN), but just couldn't do it today. Hopefully it doesn't run away from me. Either way I'm still positive the market will give me another chance considering the way this year has started.

That's all for now.

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