Strong support at $83 represented by around half a million shares bought in a few minutes when it pulled back to that level. I made initial entry at $83.01. I could be late to the party, we'll see.
i took out 80% of my holdings and the 20% remaining is all profit. IMO KMB is simply in a fading industry. sure wish i had gone with NP. my girl friend did. upstaged me there. her great capital gains far exceeded mine altho my yield was better. not enuff tho. took proceeds and bought COP (ConocoPhilips) and saw an immediate gain as KMB continued to slide in an up market. don't wait too "long". gla.
I closed my position on this one today. KMB is looking a little rich in valuation right now considering economic headwinds and currency issues. Venezuala devaluation coming which will hurt results. We saw it on the last devaluation. I'll be looking for a point of re-entry somewhere in the mid 70's perhaps, depending on conditions at that point. Good luck to all.
They're rotating into the cyclicals - financials, tech, industrial, materials, energy and the high multiple growth names. Money is coming out of the classic defensive sectors - utilities, staples and some healthcare as well as some of the high dividend areas like mlps.
This has been going on for at least a couple weeks in a small way but just became obvious for the past few days. I'd wait for a pullback in the things they've been rotating into - most are close to resistance.
As far as kmb, the chart doesn't look good right now. The stock is below the 50 dma and when that happens it often trades down to the 100 dma. I'd wait at least until kmb was close to $80 before taking a stab on the long side. I'm considering selling some sept $80 puts in the $2-2.5 area if I can- right now they're near $1.40. I'm in no hurry. This stock has had a great run and there are lots of people long at higher levels that will sell on strength.