I thought I’d change things around a bit, and show some stocks that I’m always looking to add to my portfolio, and when exactly I start buying.
But first, the market, and this week we finally saw the breakout we’ve been waiting for. And – whew! – it was to the upside. The weak volume on breakout day didn’t thrill me, so I’m hoping the upside holds. For now, though, it’s tough to be a bear.
First up on my “favorites” list is Netflix (NFLX). Not a day goes by where I don’t watch something on it (currently, “Orange is the new Black”), so I’m on the lookout for good entry points.
The key, though, is to look at a stock’s volatility and buy on a dip that is appropriate for the stock. NFLX is a wild one, and the stock regularly dives 25% or more before rebounding. Look to get in on that next dip.
Verizon (VZ) is another favorite and I’m sure most of you use it like I do. This stock doesn’t move as much as NFLX, so a 7% pullback is the right drop to look for.
Back next week and we’ll see if the breakout held.
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."