Despite a bearish call from one of the most prominent analyst, Meredith Whitney, the market continued higher. The Dow pushed higher and closed at 10,406,96. The Transport didn't lag this time and closed its yearly high of 4,046.50. This beat the last 4,045.11 that I've been watching. This mean the upward trend should continue. Although I see the upward momentum to continue, I can't ignore another Dow Theory view from a friend at Dividend Inc. He is watching the 4,072 level to be the bullish mark.
Because of the bullish trend confirmation, I suggest readers to revert to my watch list for potential buy. My personal favorites on that list are Weyco (WEYS), Wal-Mart (WMT), Monsanto (MON), Bard CR (BCR), and Exxon (XOM). For those with higher risk profile, I suggest you look at the Nasdaq 100 watch list.
Buffett Added More Wal-Mart
Some of you may know that I bought Wal-Mart in September. Today news from CNBC was most welcomed as Warren Buffett announced he nearly doubled his share counts in Wal-Mart during the summer. Share count rose from 19.9 million shares to 37.84 million shares (90% increase). In addition to Wal-Mart, he also bought more Exxon.
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