What to Trade Now

I’ve spent some time this morning trying to find a new trade, but can’t zero in on anything that seems like a good move. I went back to this week’s Barron’s and saw that even the strategists they polled can’t come up with a good consensus of what’s hot and what’s not.

• Six of them say to avoid Consumer Discretionary stocks and three say they favor the same sector.
• Four say to avoid Financials and two favor Financials.
• None of them says to avoid Tech, but a few like it and that’s one I’m not sure of based on that $COMP chart I drew this past weekend.

Here’s the Barron’s article for those interested in seeing the table.

Once I think I am getting close this market throws me a curveball like on Joy Global (JOYG).  JOYG beat earnings and forcast a good future, but is down 7% 19% today and was down more.  I can only assume it’s the global slowdown that’s scaring investors, but that a crazy drop after they beat earnings.  I’ll stay on the hunt as I feel I’m getting my head back in the game again.  AAPL is one I’m getting close to that might be worth selling a well out of the money naked put.  I’m trying to pick my entry point still.  TTEK was highlighted in the same Barron’s and sounds like a good play, but the premiums don’t work out for me to sell based on risk/reward.  I’ll keep looking for new picks and as always I welcome input from all of you who see something I’m missing.