Keeping an Eye on these Quality stocks

I still believe that we are in a wave 5 down....there is no doubt about this based on how DOW and SPX have been behaving.

However, I have a strong believe that we will eventually hit a medium term bottom soon between now and March.

So I am actually eyeing these stocks when things turn around.

Recently, some peanut butter has been hit by salmonella. Hence, causing some short and sell interest in SJM. But SJM does not only sell peanut butter and people still eat ! At the moment this stock is in a downtrend, I like this stock once a cyclical change into consumer staples begins.




Another interesting stock is SYY, at the moment this stock is at the bottom of the channel. This is a good candidate for a short term bounce.


Another good fellow to watch is MCD, short term target for this stock is 49 if the major indexes intend to go lower....Which is good because its so hard to get a good bargain at any normal times.


Here is another one, PG see how the stock has sold off from 75 to 48. This stock has broken the 5 year support, and the closest support is at 47...If that breaks too. Watch for this stock to head for 39. I would more or less expect a bounce once it hits 47 because this is a 50% fibo retracement line.