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We all know the summer months are slower for the stock market. Especially Fridays as many investors get an early jump on the weekend. This last Friday was no exception as stock coasted to a near breakeven finish on low volume.
This was the story for most stocks. However, all those affected by Amazon acquisition of Whole Foods felt the world shake under their feet.
Certainly you can understand the 9% "everything must go" sale for fellow grocer Kroger. Next in line was Costco, Target, and WalMart all getting heavily discounted. But even further out on the food chain you see convenience/drug stores like Walgreens taking a -5% markdown.
This story is yet another prime example of why "buy and hold" investing continues to lose its luster. That is because the world moves too fast. And it is hard for companies to keep their competitive advantages for long as other firms will so quickly replicate or improve upon their methods.
This is one of the main reasons that I love investing with the Zacks Rank. We all get into stocks with the best of intentions. That where it could be a long term winner if everything goes right. But once it doesn't go right and the odds stack up against us, it is best to sell and move on to the next top ranked stock where outperformance is more likely.
To more fully appreciate this notion, you need to more fully appreciate what's inside of the Zacks Rank. Gladly all of those resources are free to use every day on the Zacks Education home page. Check it out now.
Best,
Steve Reitmeister
Executive Vice President, Zacks Investment Research
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We all know the summer months are slower for the stock market. Especially Fridays as many investors get an early jump on the weekend. This last Friday was no exception as stock coasted to a near breakeven finish on low volume. 
