This week I opened new positions in the following companies…
TAP – Molson Coors, got beat up after announcing a take over of a european brewer, stock became oversold after concerns they will need to raise cash in order to complete the transaction.
NSC – Norfolk Southern, a solid railroad company I have been watching for a while. Its price action this week in the face of a weak market warranted a long position. Look for them to benefit from transporting the record wheat crop being harvested this year.
SWKS – Skyworks Solutions, A significantly undervalued company in my opinion.
CMI – Cummins, A report that indicated orders for trucks will be weaker than expected created a buying opportunity earlier this week.
LVS – Las Vegas Sands, Intrinsically undervalued, and price action this week warranted a buy. In addition, S&P took them off credit watch.
EBAY – After announcing a new payment system that will compete with Square, stock took a hit and become oversold.
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