Well, 2014 hasn’t been spectacular so far. But, c’mon: we’re two days into the year and already people are freaking out a bit about the initial selloff.
Honestly, I don’t think it’s that bad. Remember, the market went straight up after the breakout and now needs a “time out” just to cool off.
Of course, if we get another day like Thursday, then I’ll start to be worried. But, so far, I think the market has more fuel left to burn.
The past two weeks I’ve shown just how wonderful a trader I am. No doubt due to some real self-esteem problems!
However, I have a fair number of clunkers each year that require patience, nursing, and sometimes a strong stomach. Keep in mind, though, most of my trades are in stocks I know and love. So, if they decline a bit … I generally buy more.
First up is Safeway (SWY). It’s made a number of feeble attempts, but overall, it’s been a dog. But, I still see people shopping there, so I’m holding.
My other hurt locker has been Apple (AAPL) of all things. Isn’t this a stock that always goes up? I played it a few times this year, but maybe overextended my stay this time!
Back next week to see if 2014 has any friends left.
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."