NEW YORK ( TheStreet) -- On Aug. 1 the Dow Transportation Average set a new all-time high at 6686.86 despite having a sector rating of "avoid-source of funds." The transportation sector has this rating because 70% of all stocks in this sector have sell or strong sell ratings according to www.ValuEngine.com.The Dow Jones Industrial Average set its all-time high at 15,658.43 on Aug. 2, and 14 stocks in this benchmark index have buy ratings, as I noted on Aug. 1 in " August Begins With New Highs and New Risky Levels." These stocks still have buy ratings today. I have been suggesting that investors allocating cash to the stock market focus on the buy-rated Dow components with 50% of investment dollars in cash.
Stocks Remain Overvalued but Resilient
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts