I generally think the way to approach the market is to be skeptical. Always question if the market has run too far up, or has dropped too far down.
Right now, there’s a growing camp in the “too far up” camp, and I count myself as guilty. However, despite the sharp run since early October, only about two-thirds of the 14% jump that happened earlier this year.
I’m not saying the market continues its run until 2014. But, in comparison to even a recent rise, we’re certainly not in nosebleed territory.
Given that we’re headed into Thanksgiving week, I thought it would be helpful to look back at some calls I’m thankful for. I get plenty wrong, but as a trader, it’s important to recall the ones you got right.
Here are two profiled in this column, and I’ll start with Tesla (TSLA).
I also was fortunate on Amazon.com (AMZN). A strong gap up is always a good buy signal, and it’s worked out very nicely.
Back in two weeks to start the holiday countdown!
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."