This column was originally published on Street Insight on Nov. 28 at 11:20 a.m. ET. It's being republished as a bonus for TheStreet.com and RealMoney.com readers. For more information about subscribing to Street Insight, please click here.
You can call it profit-taking, a pause that refreshes or any other euphemism for the ugly action we've seen recently. What I see underneath the action is a barely discernable rotation into defensive stocks, no doubt in response to economic data that continue to come in very weak, especially on the industrial side of the economy.
I am still bullish on the economy, but I believe it's prudent to diversify with stocks that can withstand slower economic growth ahead. Later in this column I'll name some names. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,309.92 | 1,091.49 | 2,138.44 | 32.31 |
Oil *
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10 Yr
3.23%
SPDR Gold
115.06
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-1.72%
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