This market sure isn’t making it easy on anybody who went long yesterday. The market was off the lows, but it feels like we could return back to those levels if the wind blows a certain way. I can’t believe how fast we go up and down 100 points these days.
The one thing I find curious is that I didn't see any analysts out there calling a bottom yesterday. That is certainly a good sign for anybody bullish, as I like the analysts doing the opposite of what I am. There sure are a lot of negative headlines out there.
A few more “safe” stocks to consider for the long side are: Coca Cola (KO), Procter & Gamble (PG), Heinz (HNZ), and Pepsico (PEP). And a great way to play the indexes if you don’t want the added risk that stocks come with are iShares Russell 2000 Index (IWM), SPY, DIA and QQQQ. I stay away from the double ETFs, as they present too much risk for me in these markets.