NEW YORK ( Real Money) -- Get used to the pattern of a collapse in stock prices near the bell, something that happens when you are shadow boxing with unknown enemies like a collapse in Russia or a default in Brazil.
Understand that the world isn't set up as poorly, as it once was, and we shouldn't expect lasting blows coming from oil's decline, as it is a modest positive for the world and a huge one for countries like ours where the price falls right to the bottom line.
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So the question becomes, what works when we have sharp falls based on future sales anticipating events we don't know about?
I think the best thing to do is to go over what worked in the last tsunami of selling. Six quick ones tell the tale.
The first is CVS (CVS) . Here's a company that's on an unbelievable roll, just extraordinary, not even blinking when it put itself at a huge competitive disadvantage vs. Walgreen (WAG) and Rite Aid (RAD) when it pulled out of selling cigarettes.
CVS Health, as it is now deservedly called, is an expensive stock, as it has now put up a $5.05 to $5.19 earnings-per-share target for 2015. But it's a premium multiple situation owing to its consistence and to the revamping that, oddly, is so perfect for a time when oil has really come down in price. You simply spend your spare change there on the way to the back of the store's pharmacy. A very winning prescription.
Next up is Clorox (CLX) . I know this $12 billion company isn't shooting the lights out, but when you can get it on a sell program, down more than a point, say, it has proven to be an excellent reach-for. It doesn't have the growth, it doesn't even have a big buyback. It has consistency and people crave consistency. Only buy it down a buck, though, if you want to make the most money.