Is WWE a good move in this environment?

So, the market is having problems today (not that I have to explicitly state such an observation, since any day is pretty much problematic these days) with the continuation of the financial crisis as so wonderfully expressed by the JP Morgan Chase (NYSE: JPM) transaction with Bear Stearns (NYSE: BSC). So...what's working today?

Well, Coca-Cola (NYSE: KO) is like one of the only stocks in my portfolio right now that is in the green. But there's another stock out there that isn't doing so badly that might surprise you -- World Wrestling Entertainment (NYSE: WWE). When was the last time you watched wrestling; when was the last time you invested in it? Believe it or not, WWE is holding up well today, and as of the time of this writing, it's actually up a couple pennies to $18.18. Its 52-week high is $18.85, and it is currently yielding nearly 8%. It seems like a much safer way to get yield over a financial stock, doesn't it?

WWE is wrestling with the market and holding its own. Vince McMahon must be one smiling guy right about now...

Disclosure: I own shares of Coca-Cola; positions can change at any time.