Alright so the market opened up horrible today, traders are still uncertain to where this market is going to go and we traded on fear not logic today. Regardless of the bounce back in financials and the Merck and Schering-Plough merger as well as the Dow/Rohm merger. We saw a negative ending day in the Dow as well as the Nasdaq. No real good news didn't help the tech sector either which as of late has been doing fairly against the Dow 30. One bright side of news was that BAC was seeking private funding, any news of private funding for banks is good news. It shows the less dependence our financial firms will have to deal with which could show signs of light. So, what do you do if you want to get into the market but are so uncertain you don't know whether to by WalMart or Walgreens? Best Buy or Gamestop? Johnson and Johnson or Proctor and Gamble? I'll tell you, invest in high dividend stocks, here are my 5 picks.
Merck- Well today there was a little merger action with Merck which shows good financial strength in the company. It may be volatile but the 6.30% dividend payout ain't bad...
Dow Chemical- Another merger stock today and a cheap play at around 7 bucks a share. This company has been hit hard but looks to be caught on an upswing. Pays a 8.40% dividend.
Goldman Sachs- Ahh, now this stock has been hammered and keeps going back and forth but a 2.0% dividend is huge for our bank stocks and again I see an upswing here from 77 to 1000.
Shipping Financial- Holy cow a 27% dividend? This stock is at a 52-week low and was darling for dividend players a while back. If rates go back up so will Shipping Financial.
Waste Management- Trading at a cool 20 bucks a share this garbage company pays a nice 5.00% dividend and yeah know what...peeps always got garbage.
So there you have it, I personally think I am going to dive into Shipping Financial tomorrow if there is some good positive feedback from research...keep on trucking
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