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: 2/2/2012)

Company Name	Ticker	Recent Price $	YTD % Price Change	Close Ratio
ALCOA INC	AA	10.42	20.5	0.846
BANK OF AMERICA CORP	BAC	7.45	34.0	0.928
HEWLETT-PACKARD CO	HPQ	28.50	10.6	0.952
PROCTER & GAMBLE CO	PG	63.32	-5.1	0.988
COCA-COLA CO	KO	67.83	-3.1	1.002
AT&T INC	T	29.79	-1.5	1.006
JOHNSON & JOHNSON	JNJ	65.59	0.0	1.011
UNITED TECHNOLOGIES CORP	UTX	80.02	9.5	1.019
VERIZON COMMUNICATIONS INC	VZ	37.56	-6.4	1.019
CHEVRON CORP	CVX	103.69	-2.5	1.020
JPMORGAN CHASE & CO	JPM	37.55	12.9	1.030
3M CO	MMM	87.43	7.0	1.032
AMERICAN EXPRESS CO	AXP	51.16	8.5	1.050
EXXON MOBIL CORP	XOM	83.53	-1.5	1.054
THE TRAVELERS COMPANIES INC	TRV	59.39	0.4	1.058
DU PONT (E I) DE NEMOURS	DD	51.40	12.3	1.062
DISNEY (WALT) CO	DIS	38.91	3.8	1.063
PFIZER INC	PFE	21.11	-2.4	1.065
GENERAL ELECTRIC CO	GE	18.75	4.7	1.077
INTL BUSINESS MACHINES CORP	IBM	191.53	4.2	1.082
BOEING CO	BA	75.22	2.5	1.083
KRAFT FOODS	KFT	38.58	3.3	1.095
MERCK & CO	MRK	38.44	2.0	1.101
MCDONALD'S CORP	MCD	98.62	-1.7	1.103
WAL-MART STORES	WMT	61.94	3.6	1.121
MICROSOFT CORP	MSFT	29.95	15.4	1.149
INTEL CORP	INTC	26.49	9.2	1.154
CATERPILLAR INC	CAT	110.33	21.8	1.158
CISCO SYSTEMS INC	CSCO	19.80	9.5	1.168
HOME DEPOT INC	HD	44.46	5.8	1.210