Overdone?
I have to tell you I see stocks that are overdone to the downside. An ill-advised word choice, "choppy" on the McDonald's (MCD) call confused people and makes it sound like that business is choppy. No, a better word would have been "distorted" because of the new tax code, which actually will be positive not negative for McDonald's.
A blow out quarter sacrificed on some chopped sirloin.
Might be a good place to start a position.
Danaher (DHR) delivers north of 5% organic growth and its stock gets hammered?
Doesn't make a lot of sense.
FedEx (FDX) has retreated from $274 to $260, a level that might make some sense to start a position.
You can't buy the stock of PNC Financial (PNC) on the first day down. But if rates are going higher this would be the one.
And, frankly any defense stock works. I would start a position in Raytheon (RTN) as that had the best quarter of them all so far.
I know, not much, but I think it's important to be looking and thinking.
What can I say, the good ones are barely down today.
Maybe better hunting tomorrow.
