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The Chartman

Summer Doldrums in April? Consider J&J, Rite Aid

I thought I’d shake things up this week and talk about a few trades I’m in. Before I get to those, however, a quick look at the market. And I say “quick” because that’s about all it warrants.  That is, instead of dropping further – my (wrong) prediction – the Dow has moved back up and continued its sideways move.  In other words, the summer doldrums may already be upon us!

As for my trades, many of you know I like to buy stocks I use. One, I think everyone uses is Johnson & Johnson (JNJ).  It plowed down recently, I bought, and now I’m hoping for a rebound.  (But, I’m prepared to buy more if it goes lower…)

Another stock I recently bought is my local pharmacy, Rite Aid (RAD).  Interesting in that it’s generally not a well-liked stock, but I do just fine with it, both in real-life and in the market.

Okay, that’s all for now. I’m off next week, but back in May!

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."