As the “slow” raid begins in Cyprus, markets shook off early uncertainty, even as the government there decided to put limitations on how much depositors can remove from the banks. Whether the action in Cyprus amounts to anything significant in other European countries remains to be seen.
The markets held up well as today marked the end of a solid first quarter for the averages. As well, today wraps up the trading week ahead of tomorrow’s Good Friday holiday for traders. Fertilizer play Mosaic (MOS) shares were following the company’s earnings release. Meanwhile, Paychex (PAYX) and Accenture (ACN) were able to shake off early weakness and close higher following their earnings release. Finally, apparel play V.F. Corp (VFC) gained following some optimistic chatter from a Wall Street analyst.
For those of you who may be new to this newsletter or our Dividend.com Premium service, one thing I want to make clear is that we don’t tend to look at the market with the usual Wall Street glasses of stating what percentage we are bullish or bearish on. The business media gets enamored with creating indexes that are measuring fear and greed. Almost every site you visit will ask to take your temperature and then showcase the findings. They then try to point to this data as potential turning points for the markets.
As cautious as we are starting to become, we have also felt nervousness all the way up from the March, 2009 bottoms. Despite that mindset, we realize that trying to time the market by going to heavy cash or all-cash positions do little to help those who are looking to out capital to work in the best ideas possible at the time. Even though our recommended list got down to only 6 stocks we liked back in March of 2009, there were still things for investors to do that would benefit them greatly over the years that followed.
So as we look to potentially scale back on the names we like, we are still waiting for evidence that would compel us to do so. As much as investors have been trying to call the top of the rally the last few years, we continue to maintain individuals should be paying attention to both sides of the equation, bullish and bearish. We rarely look to celebrate short-term gains, since we understand the game of building wealth is a long-term equation.NEW! Stock Charts on Dividend.com
We just added a great new feature to Dividend.com this morning: stock charts! Now you can view long- and short-term charts for all the dividend stocks we cover. Just look up a company or symbol using the “Company or Symbol” search box in the upper left hand corner of any page on the site, and you’ll be taken to our brand new stock profile pages. Stay tuned for more great features as we continually strive to improve your Dividend.com experience.Looking Toward Next Week
Looking ahead to the next week for stocks, earnings releases will be fairly light as the second quarter begins. Some of the companies reporting next week include Monsanto (MON), Conagra Foods (CAG), and McCormick & Co. (MKC). Enjoy the holiday weekend and safe travels! We’ll be back on Monday, but be sure to check out our usual weekend reports.