Boy, I miss a column for a week and the whole market falls apart! But, now that I’m back…it doesn’t look like it got any better. In fact, from here on, it looks to get worse. Sorry…
As for stocks in the news, has General Motors (GM) recovered or improved since it said it’ll stop production on the Volt? Looks like the news didn’t help the stock, so steer clear for now.
In other news, I saw Amazon’s (AMZN) Jeff Bezos took home $1.68M last year. Compared to what RG III will get, I actually think that’s more than fair. As for the stock, I like it long right now. But, be sure to have a stop under that trendline.
Okay, looks like the market is in the midst of its first serious pullback of 2012. We’ll look next week to see if there are any buying opportunities.
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."