Chasing Value: Raytheon up today -- one of the few

Not much good happened in the stock market today and many Wall Streeters probably wish that "The Fed" would meet early -- like now -- not at the end of the month, and drop interest rates a full point. It is not common for the market to drop when oil prices are down, but the market and oil are reacting to the same thing: weak economic data. If oil prices continue to fall it will relieve some concerns of the Federal Reserve about inflation, allowing them to make a larger move.

Today was an ugly day in the stock market with almost everything ending the day lower. I just finished reviewing five portfolios, plus two watchlists, and my seven picks from last year and Cramer's nine. Out of perhaps 100 stocks only one was up, Raytheon Company (NYSE: RTN). That is not much to brag about one in a hundred. That's downright terrible.

When I selected RTN for 2008 I did not have any idea the title would be so fitting Chasing Value: Raytheon in defense of the nation and your portfolio The defense sector has been strong for eight years running and this year does not look to break that trend. The market has done so poorly that any stock just treading water is looked upon favorably.