I feel that the market will be overbought after January and we have to be careful that the market will go into a correction. But sometimes there are companies that have the opportunities to keep on going.
That company could be ABB. So I am going to make this a scale down purchasing plan and say we are committing 5% of my funds to this trade and will start to buy it now at 17.70 with 2% of my funds.
I will then add 1% more up to total 5% every $.40 lower.
Now for some background.
Continued.

The Financial Times ran a piece about ABB’s turnaround and Fred Kindle, its chief executive. “ABB Dispels Doubts With Profits Set to Exceed $1 Billion,” reads the headline. “When ABB reports full-year results next month,” notes reporter Haig Simonian in Zurich, “the figures should dispel any lingering doubts about the comeback of this once-distressed Swiss-Swedish electrical engineering group.”

Basically, the piece was quite favorable about ABB’s prospects. “In Asia, South America and the Middle East, they need to invest billions,” Kindle says. “This investment will continue and be sustained.” The piece also notes the huge demand for replacement of the aging North American power grid, making up for “years of underspending.” Europe, too, faces similar demands.

Kindle now has turned his attention to filling out ABB’s global business with an acquisition, particularly in the growing markets such as Brazil, China and India.

ABB remains a good company in its own right and a good idea on the theme of replacing, upgrading and building the world’s power grids and infrastructure.