market folly

Today I'm seeing interesting news that both Qualcomm (QCOM) and Jacobs Engineering (JEC) have been added to Goldman's Conviction Buy List. Now, typically I don't pay particularly close attention to analyst upgrades/downgrades and the like. I'll check out their price target and see if they're saying anything new or completey outlandish that separates them from the crowd. But, one list I do like to pay attention to is the Goldman Sachs Conviction Buy List. This list carries weight for me simply because Goldman are one of the few firms truly surviving in this credit crisis. And, they are doing so by doing extremely well in their trading group. So, checking out their "A-list" for buys is a smart move simply because they have been killing it in the equities markets.

Reason I point out these two specific names (JEC + QCOM) is because I'm actively interested in these names. Qualcomm being added is a positive sign for me as I've recently added to my position on the touch of the 50 day moving average. They are one of my biggest tech holdings and will continue to be in the future. They are a big player in the mobile buildout space and also have a large hedge fund presence.

Jacobs Engineering (JEC) operates in the world of global infrastructure and has interested me for a while. I've been in and out of Foster Wheeler (FWLT), Fluor (FLR), and McDermott (MDR) for my exposure to this sector. Currently, I only hold FLR and am cautiously stalking other names to add to my infrastructure basket. Most of these companies have true global exposure and massive contract backlogs, which is reassuring. I'm still in the midst of my infrastructure research, but I'm most likely going to be adding FWLT (again) in addition to my FLR position. However, JEC keeps popping up on my radar, so I'll definitely be researching it more.