... Or a funny thing happened on the way to the market.
Two of my picks from last week CALM and FUN got downgraded by Valueline in the report that came out last week. CALM went from a Timeliness of 1 to 2 and FUN dropped from 2 to 3. This meant that FUN immediately Dropped out of my list of Potentials; I may consider it again if at a future date if it rises from the ashes. You know, with a stock symbol like FUN, how can you completely give up on it?
CALM though is still on the Potentials list because a Timeliness of 2 is still considered a good or Timely stock in the Valueline universe. CALM also withstood the storm that came down on the market last week reasonably well, which is a great segue to the GREAT CHINESE MARKET DEBACLE of 2016.
The Chinese stock holders and the world in general have started to catch on to the hoax of the Chinese stock market. As a person of Indian origin, with a Chinese made knife still stuck deep in the back of my psyche, reference to the "हिंदी चीनी भाई भाई" ( Indians and Chinese are brothers ) days right before the Chinese People's Army attacked India, I have a deep suspicion of anything Chinese. So I am not surprised that the miracle of the Chinese stock market is just a mirage that is starting to fade.
Anyway, theinstability meltdown of the Chinese market affected markets around the globe and I figured this would be a good time to buy some stocks that have dropped from their high perches. So, onward to the Buy(s) of the week.
I picked up a small quantity of GOOG at $744.475 and another small quantity of GOOG when the market dropped even further at $726.70. I thought this would be a good time to invest with the market on the downswing, but I underestimated the velocity of the downswing. The week ended with GOOG at $714.47 earning this week the Ka-Flunk label :-( . I am not worried about this because I believe the Google (Alphabet Inc.) is still a good investment and it will pay off.
Still on the list of Potentials is this stock from last week:
The Industry ranking has dropped 3 slots to 35, the estimated yield is down to 6.6%, and both the Timeliness and Technical Ranks have dropped by one. But the price appreciation has risen to 0-45% to match the price drop showing that the stock still has the same appreciation potential. Also the price is only down a few points to a little above $46, so the stock dealt with the China crisis quite well. This makes sense because the company has no real exposure to Chinese markets. All this keeps the stock in the running as a potential buy.
That's all folks...
Two of my picks from last week CALM and FUN got downgraded by Valueline in the report that came out last week. CALM went from a Timeliness of 1 to 2 and FUN dropped from 2 to 3. This meant that FUN immediately Dropped out of my list of Potentials; I may consider it again if at a future date if it rises from the ashes. You know, with a stock symbol like FUN, how can you completely give up on it?
CALM though is still on the Potentials list because a Timeliness of 2 is still considered a good or Timely stock in the Valueline universe. CALM also withstood the storm that came down on the market last week reasonably well, which is a great segue to the GREAT CHINESE MARKET DEBACLE of 2016.
The Chinese stock holders and the world in general have started to catch on to the hoax of the Chinese stock market. As a person of Indian origin, with a Chinese made knife still stuck deep in the back of my psyche, reference to the "हिंदी चीनी भाई भाई" ( Indians and Chinese are brothers ) days right before the Chinese People's Army attacked India, I have a deep suspicion of anything Chinese. So I am not surprised that the miracle of the Chinese stock market is just a mirage that is starting to fade.
Anyway, the
I picked up a small quantity of GOOG at $744.475 and another small quantity of GOOG when the market dropped even further at $726.70. I thought this would be a good time to invest with the market on the downswing, but I underestimated the velocity of the downswing. The week ended with GOOG at $714.47 earning this week the Ka-Flunk label :-( . I am not worried about this because I believe the Google (Alphabet Inc.) is still a good investment and it will pay off.
Still on the list of Potentials is this stock from last week:
Name: Cal-Maine Foods
Industry: Food Processing
Symbol: CALM
Timeliness: 2
Safety: 3
Technical: 3
Approximate Price: $46
Dividend Yield: 6.6%
Industry Rank: 35
Low Gain Estimate: 0%
High Gain Estimate: 45%
Symbol: CALM
Timeliness: 2
Safety: 3
Technical: 3
Approximate Price: $46
Dividend Yield: 6.6%
Industry Rank: 35
Low Gain Estimate: 0%
High Gain Estimate: 45%
The Industry ranking has dropped 3 slots to 35, the estimated yield is down to 6.6%, and both the Timeliness and Technical Ranks have dropped by one. But the price appreciation has risen to 0-45% to match the price drop showing that the stock still has the same appreciation potential. Also the price is only down a few points to a little above $46, so the stock dealt with the China crisis quite well. This makes sense because the company has no real exposure to Chinese markets. All this keeps the stock in the running as a potential buy.
That's all folks...
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