Hold My Beer:
As we go through another heightened earnings flurry after Thursday’s CLOSE. The brewers are part of the staples space, but I figured it could be a good hedge against any possible weakness in the discretionary names. It should be no surprise that I enjoy a cold one with my #drinkandthink videos on the weekends. And of course, there have been some serious hangovers within if one has owned SAM. That stock which some call the inventors of “craft beer” (I remember loving the Sam Adams Cherry Wheat) is now 70% off most recent 52 week highs as it sits perilously above the very round 400 number. The chart below of TAP is on a 3 session winning streak and one could say that it acted well on an awful tape because of its defensive nature rising .6% Thursday, but BUD dropped 3.3%. It is showing relative strength on other time frames too up 4% YTD, as BUD is higher by 2%. And this week headed into Friday TAP has risen 1.2%, as BUD has dropped 1.8%. It also carries a better dividend yield at 2.8% compared to BUD at 1.9%.