Charles B. Carlson, CFA

The list below ranks the 30 Dow stocks on the ratio of stock price to 200-day moving average price, from the lowest ratio to the highest ratio. The 10 Dow stocks with the lowest ratios are highlighted. A variation of my Worst-To-First Strategies focuses on creating portfolios from the 10 Dow stocks with the lowest ratio of current stock price to 200-day moving average price (1-stock, 3-stock, 5-stock, or 10-stock portfolios). For example, if you want a 3-stock portfolio, buy the first three stocks in the list and hold for 12 months.

FURTHEST FROM 200-DAY MOVING AVERAGE (Data as of: 1/22/2019)

Company Name	Ticker	Recent Price $	YTD % Price Change	Close Ratio
APPLE INC	AAPL	153.30	-2.8	0.795
UNITED TECHNOLOGIES CORP	UTX	111.06	4.3	0.878
DOWDUPONT INC	DWDP	56.24	5.2	0.894
INTL BUSINESS MACHINES CORP	IBM	122.52	7.8	0.895
GOLDMAN SACHS GROUP INC	GS	197.68	18.3	0.901
EXXON MOBIL CORP	XOM	71.89	5.4	0.903
CHEVRON CORP	CVX	112.34	3.3	0.936
HOME DEPOT INC	HD	177.11	3.1	0.936
JPMORGAN CHASE & CO	JPM	102.94	5.5	0.942
CATERPILLAR INC	CAT	132.24	4.1	0.950
3M CO	MMM	192.26	0.9	0.955
THE TRAVELERS COMPANIES INC	TRV	122.36	2.2	0.962
AMERICAN EXPRESS CO	AXP	99.83	4.7	0.973
JOHNSON & JOHNSON	JNJ	128.80	-0.2	0.974
INTEL CORP	INTC	48.27	2.9	0.978
CISCO SYSTEMS INC	CSCO	44.78	3.3	0.998
VISA INC	V	138.05	4.6	1.005
DISNEY (WALT) CO	DIS	110.60	0.9	1.008
MICROSOFT CORP	MSFT	105.68	4.0	1.008
WALGREENS BOOTS ALLIANCE	WBA	71.59	4.8	1.018
BOEING CO	BA	357.90	11.0	1.029
UNITEDHEALTH GROUP	UNH	265.69	6.7	1.037
PFIZER INC	PFE	42.27	-3.2	1.042
COCA-COLA CO	KO	47.72	0.8	1.042
WAL-MART STORES	WMT	97.49	4.7	1.064
NIKE INC -CL B	NKE	80.75	8.9	1.066
VERIZON COMMUNICATIONS INC	VZ	56.99	1.4	1.069
PROCTER & GAMBLE CO	PG	90.44	-1.6	1.089
MCDONALD'S CORP	MCD	184.57	3.9	1.099
MERCK & CO	MRK	75.83	-0.8	1.117