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The Chartman

The Nasdaq is Slumping, So Buy In

Well, that certainly wasn’t a pleasant week.   It didn’t have a huge down day, but it did have the steady drip-drip of relentless selling.  In fact, every day on the Nasdaq had a lower close than open.  Ugh.  

On the other hand, it still feels like a normal course correction, and I’ve been buying into it almost every day, waiting for the – inevitable??—upturn.

With the Nasdaq selling off, I thought I’d look at some mo-mo stocks to see how they’re faring.  The verdict: I think they’re primed to start rallying. 

First up is Tesla (TSLA).  A brutal March, but good for potential buyers.

Facebook (FB) isn’t in quite the same shape, but should be ripe for picking soon.

Back next week to see if the market can muster any kind of bounce.


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."