Chuck Carlson
CEO of Horizon Investment Services
and Publisher of the
Dow Theory Forecasts Newsletter
Hammond, IN
American Express: AXP
AXP – has had a tremendous move off the bottom in line with other financials. Stock is getting ahead of itself, however. Trades at 20 times 2010 earnings estimate – a bit rich. Still issues lingering for consumers and consumer debt. Overall Quadrix score is only 47 (out of possible 100). Use the rally to SELL.
Boeing: BA
BA – lackluster performance during this strong rally. Too much uncertainty and timing delays on dreamliner. Stock is relatively cheap. Still, tough to argue for a buy right now. Could be dead money for at least another six months. HOLD/SELL
CSX: CSX
CSX – I like near-term price action. Overall Quadrix is 78 (out of 100). Decent score. Valuation is OK at 13X 2010 earnings. Rails may have gotten a little ahead of himself, but I like this stock the best of bunch. A “soft” Buy – probably more of a hold since I am not real excited about buying too many stocks right now as a result of the market.
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