Friday had some fireworks, but for the most part it was a positive week. Of course, all the market did was fill the gap it set in late July on the nasty gap down. Once a gap is filled, though, the move generally resumes the prior trend. In this case it’s “down,” but I’d stay in cash as the market has been very unpredictable.
If your neighborhood is like mine, there’s a beehive of activity with home improvement. I thought it’d be a good idea, then, to look at some “fixer-upper stocks.”
We’ll start with Toro (TTC), and here I think it’s a winner.
Sherwin-Williams (SHW) exhibits the same “gap-filling” as the market, only this time in reverse. Individual stocks are a little easier to figure though, so we could count on the resumption of the uptrend. I think that trend continues for SHW
I’m off next week on vacation. Back to celebrate the end of August in two weeks.
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."