Coming into the week, I suppose everyone thought it’d be near-catastrophe for the market. Turns out it’s been – at least so far – a big yawn. Maybe that means 60% of the government really isn’t necessary. Or maybe it means we’re just whistling past the graveyard.
Whatever your conclusion, the market still looks to be in good shape, and unless some kind of bomb drops – debt or otherwise – I think we’re poised for a rebound.
One of the cornerstones of my investment strategy is to start buying a stock the moment I start using the company’s products or services. (That would have made me a mint if I had used that approach the first time I walked into a Starbucks (SBUX))
In any event, I noticed a few products I was using came from ConAgra Foods (CAG), so I gave the chart a look. I’m ready to buy at the right time.
In a different vein, I had a few old fraternity brothers at the house last weekend. Guys I hadn’t seen in more than 35 years, so it was fun to reconnect. One worked for Merck (MRK) and he wanted to know if his stock was a buy. Almost, I think….
Back next week to see if the market shows any awareness for what’s going on in D.C.
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."