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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Stock of the Week

Patience

May 7th 2010 The first quarter earnings are winding down now. The earnings numbers and guidance going forward were spectacular. This was one of the best quarters I can remember in a long time, yet thanks to a two week sell off of nearly 10%, the major averages are in the red for the year. We have a dichotomy going on with U.S. corporations in great financial shape, but countries around the world now weighed down with huge debt loads after pushing the world economies out of the Great Recession. Any investor that missed the nice run up in February, March, and then April has a second chance to get in at levels not seen since February and March.
We have featured a number of blue chip stocks over the last several months reporting great earnings, raising guidance, and raising dividends or anticipating raising their dividends. A number of these stocks have had nice run ups, but have since pulled back in the last couple of weeks. The fundamentals have not changed. Companies that reported great earnings in April are still performing well here in May.
Conservative investors may want to wait for the markets to calm down before putting money back to work even though the averages may be higher by then. No one has to put all their money to work at one time, but investors that missed the run up have an opportunity to get in at lower levels.