Wall Street Finally Breaks Out

By

Published July 03, 2014

| FOXBusiness

Last week, I was curious to see if the market could finally break its funk.  It did and soundly on Friday.

Of course, I’m always worried, this time about the market being overextended.  Still, it’s hard to fight the tape and breakouts like this have to be respected. 

It wasn’t a good week for defensive stocks, but I always like Dominion Resources (D) as a buy when it droops.  No better time to pick some up than when it’s near support.

Months ago, I was holding Twitter (TWTR) …and getting killed.  I had patience, though, and bought more as it slid.  Fortunately, it had a nearly 30% bounce and I was made whole again.  On the other hand, that 30% move hasn’t had a pause, so I’d wait for a pullback to start buying.

Have a great holiday.  Back next week.

URL

http://www.foxbusiness.com/investing/2014/07/03/wall-street-finally-breaks-out/