The market closed this week down 101.64 points (roughly 1%). The big picture is not looking good. My watch list rose from 6 to 12 companies this week. That is more than double. For a second consecutive week, I do not have any company that is within 10% of the yearly low.
Although the market appear to be "topping out", I bought a stock that I sold earlier in the year, Altria Group (MO) at a yield of 7.5%. I placed Altria as my wild card company on the watch list because the company isn't trading near its low but after increasing the dividend by 6% plus a strong fundamental, I had to buy some for my family. If Altria falls to 52 weeks low, it would yield an amazing 9.5% and the company is known to have a ridiculous payout ratio of 90%+. Enough about that, here are the companies on my watch list as of September 4, 2009.
Nasdaq 100 Watch List
