After last week’s mess, the market put together a number of good days. But while the bulls have something to cheer about, the fact is the market is now moving sideways and nothing’s been resolved. I think we’ll go through a fairly choppy, sideways environment, but am hopeful everything gets resolved to the upside.
With the Internet sales tax being discussed, I thought it’d be interesting to compare an Internet giant with a brick-and-mortar beast.
Amazon (AMZN) had a rough Friday and that makes me think it may drop further. That said, a low risk/high reward play would be to buy at support and sell if it then drops below that.
Macy’s (M) is really in the opposite camp. In fact, it’s up strongly this year and looks like it’ll move even higher.
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."