We're probably in a bear market now, Doug McIntyre says in the latest edition of StockWatch: Between the Bells. The editor of financial news site 24/7 Wall St. and prolific BloggingStocks contributor cites two factors that demand investors' attention: the rising, record price of oil -- underscoring the falling value of the dollar -- and an increase in homeowners defaulting on their mortgages in the coming year.
Steer clear of housing and lenders for now -- Doug says it's too soon to buy depressed shares like Beazer Homes (NYSE: BZH) and Citigroup (NYSE: C). Newspaper stocks like USA Today publisher Gannett (NYSE: GCI) will fall further as well -- it's still too early to buy.
So where should you put your money instead? Take refuge in the big technology companies, Doug says. With new products and expanding markets, giants like Google (NASDAQ: GOOG), Microsoft (NASDAQ: MSFT) and Cisco Systems (NYSE: CSCO) can stiff-arm any recession to come.
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Reader Comments (Page 1 of 1)
11-02-2007 @ 4:29PM
Harry said...
Totally agree. Near future doesn't look good...consider that the dollar is the weakest in decades, significant credit problems are bombing major banks, oil is around $90 predicting a major gasoline price increase soon, home foreclosure numbers are bad and growing, housing is literally frozen and falling, grocery and energy prices are soaring with electricity and natural gas expected to go up 15-20% this winter, the huge illegal alien problem remains, medical costs are jumping, and manufacturing jobs continue to go overseas...
and we have a $12 BILLION A MONTH war full of corruption we can't seem to win.
11-02-2007 @ 4:32PM
Tom said...
I'm buying overseas funds such as TREMX and TRAMX and at home Diaego, Procter & Gamble, Colgate-Palmolive and a Unliver...