Tobacco Stocks Improving

The tobacco stocks may have reached a significant near-term bottom this week. I am particularly interested in Philip Morris (PM) but the remaining three -- Altria (MO), Lorillard (LO) and Reynolds American (RAI) -- are also improving.

Of the group, PM has suffered the most damage since the summer highs. The stock put in new 2013 lows Tuesday while the other three held well above respective yearly lows. PM drifted slightly lower Wednesday, putting in its sixth straight lower low as selling pressure accelerated. The drop increased the loss for the month to more than 6% and did not appear to be losing momentum. The rebound since Thursday's open has certainly altered a very bearish picture....174 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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