Another New High for the Ultimate Basics Stock
Jun 6th, 2008 | By Brian Hunt | Category: Stock Market InvestingIt’s a runaway bull market for a trend we’ve been covering since last year… “the basics.”
The idea here is that while spending stocks like RV builders, boat retailers, and automakers struggle, companies involved in the basics will continue to do well… These companies sell things folks “have to have” rather than “want to have.”
The new highs in coal, natural gas, oil services, and agriculture companies show this trend at work. These are all basic industries that help produce food, fuel, and electricity. All are soaring right now. Also soaring is Wal-Mart – the ultimate destination for buying things we “have to have.”
Wal-Mart doesn’t sell $25,000 motorcycles or mega motor homes. Just the cheapest, most basic stuff in America. Sales are robust, and shares have gained 30% this year. As today’s chart shows, it’s a bull market in the basics.
Source: Another New High for the Ultimate Basics Stock
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