Although I still think there are significant problems in the EU zone, the market's fears have been appeased in the short term. With the coordinated central banks action and the agreements by EU countries on Friday, it appears the sovereign debt defaults and a breakup on the EU zone may be prevented, or at least delayed. I believe the markets will react positively and continue to rally in the short term.
I have already started buying last week: IBM, McDonald's, Eli Lilly, Core Labs, and Stericycle. While IBM McDonald's and Eli Lilly pay nice dividends, I chose Core Labs and Stericycle for having good upward trends since January 2007. This week, I will continue to consider buying other good dividend paying stock such as Abbott Labs, Phillip Morris, Freeport-McMoRan, and Intel.
Disclosure: Our personal investment accounts current have positions in IBM, McDonald's, Eli Lilly, Core Labs, Phillip Morris and Stericycle. We have no positions in Abbott Lab, Freeport-McMoRan and Intel but may make purchases as early as Monday, December 12.
For more on New Beginnings, check back every Sunday for a new segment.
This is not financial or investment advice. Please consult a professional advisor.
Copyright © 2011 Achievement Catalyst, LLC
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