### Comment:
I’m still pretty cautious of a turnaround in the market. I’m long WMT, JNJ, PSX, K and short FB. I had a bunch of BIDU calls but sold out too early.

### REPLY:
JNJ is hella expensive. Current PE at 24.5. You are paying a lot for not much growth. If you want to go defensive look at T. Much cheaper valuation. Over 6% yield. Strong catalyst in the future with 5G.

### END.