Chuck Carlson, CEO and portfolio manager for Horizon Investment Services, says the firm's market outlook is based on the Dow Theory, which says the primary trend is bearish. "We're getting a retest of the July 2 lows of 9686.48," Carlson says. "That's the point we're focusing on closely. If the Dow breaks below that level, there will be more selling ahead."
Right now, Carlson says high-quality dividend-paying stocks in the Dow as good buying opportunities. Twenty-nine of the 30 companies in the Dow pay dividends, and two-thirds of those are yielding 2.5 percent or more, he notes. "Four of these stocks have good value, decent operating momentum and dividend growth," Carlson says."And should experience solid gains over the next 24 months."
Source: CNBC
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