Interesting. Last week I was mildly bullish on the Dow, but more wary on the Nasdaq and S&P. And that’s pretty much how it played out this past week, with the Dow gaining a solid 2.5%, while the S&P was up about 1%, and the Nasdaq actually declined about 1%.
Overall, though, I’m still tepid about the market…..
…..despite the fact the Dow is strong.
Now if you believe the Dow story and fall into the bull camp, I like the auto sector and particularly Lithia Motors Inc. (LAD).
If you’re more bearish, though, and think the Nasdaq is the story, then I’d wait for a stock like Apple (AAPL) to fall further (probably to the area I indicated below) before buying.
Regardless of how you feel, though, I think there could be some wild moves in the next few weeks.
Gary B. Smith joined FOX News Channel in 1999 and is currently a regular commentator on "Bulls & Bears," including his own segment called, "The Chartman."