June 2, 2010
Shares of AmerisourceBergen Inc (NYSE: ABC) are holding up exceedingly well in a very weak stock market.
As of the close on Monday, June 1, the S&P 500 Index (SPX) had declined 12% from its closing 2010 high.
AmerisourceBergen on the other hand, is within a few percent of its 2010 highs.
AmerisourceBergen closed Monday at $30.81. Its 2010 closing high was $31.79 on May 12.
AmerisourceBergen may not have gained ground over the past several weeks, but as the stock market declined, shares of this blue chip company held their ground.
During times when the markets correct, share of companies like AmerisourceBergen are insurance against losses. And when the market turns around, shares of AmerisourceBergen will outperform those of most of the beaten down companies.
Disclosure: The Fibtimer.com (www.fibtimer.com) Stock Timing Strategy holds a position in AmerisourceBergen.