Tough Times for Long-Term Investors

Johnson & Johnson is a widely held stock and an institutional favorite. It pays a nice dividend and likely will be around for a long, long time. So investors should be comfortable with it, right?

Take a look at this chart. Over the past few months is has traveled quite far yet it made no progress. Buy it and you get stopped out. Sell it and you get stopped out.

My thesis is that until this sort of behavior ends, small investors will not be back. Of course, that is one of many reasons why Joe Mainstreet is missing.