I wanted to do a quick review of some of my recent calls to show you that even “The Infallible Chartman!” (which nobody calls me) can be wrong!
For example, last week I was confident that given the sharp rise and looming resistance, the rally would stall. Not only did it NOT stall, it seemed to strengthen this past week.
Of course, there’s usually another hurdle to cross and for the market, it’s now the old highs. I’m not about to double down, but I think you have to be just a bit cautious.
On the flip side, I did get Apple (AAPL) right. Like the market, I think the parabolic move at least slows down before higher ground is attained.
Finally, Procter & Gamble (PG) has been a sad stock for me. It broke out Friday, though, and made me breathe a sigh of relief. I think it goes higher from here.
Back next week where I’m hoping “Snochi” is but a distant memory.
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."