This is going to be a project!
Our last Watch List was published back on December 27th and most of those stocks have taken off - so we don't want to chase them 6 months later, which means we're looking for all new opportunities at the potential top of the market - that can be dangerous. HOPEFULLY, earnings season will provide us with bargains so keep in mind that the Watch List is generally stocks we'd like to buy - IF they get cheaper - not stocks we ARE buying right this minute.
When we add a stock to one of our Member Portfolios, it generally begins with the sale of a put, to give us an even lower net entry price (see "How to Buy a Stock for a 15-20% Discount") and then we build a position from that over time (see our Strategy Section). With the entire S&P 500 up 20% since December, bargains are certainly harder to find - but they're out there...
For our Watch List, we look for Blue-Chip type companies with low debt, low p/e and reasonable anticipated growth. For stocks we liked in December, I'm including legacy prices in the descriptions, so we’ll know at what price we began watching – regardless of the date we begin.
This post is like the LTP Reviews - it will take a few days to complete but it needs to get started - so here we are...
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- APD ($260) - Currently at $255, so down a bit. $56Bn market cap and they're looking at $12.20-$12.50 EPS for 2024, so still around 20x forward earnings. They just sold off their LNG business to Honeywell, which should bring in some cash and let them focus on their core industrial gases. Q2 earnings beat expectations despite "challenging economic and geopolitical circumstances."
