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The Chartman

2013 is Off to a Strong Start, But Don’t Hit ‘Buy’ Just Yet

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Overall, it was a pretty good week for the market, although most of 2013’s action is still confined to the first trading day.

Still, the market continues to move up to resistance, and if we break it – no sure thing – I think we’ll have a good run. But, I wouldn’t pounce before then, because a pullback is equally likely.

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I wanted to go back to one of my old favorites, and that’s Rite-Aid (NYSE:RAD). I’ve been laughed at for liking this stock, but I see my local store getting bigger with even more foot traffic. The action in the stock price has justified my belief.

I also frequent Amazon (NASDAQ:AMZN) – probably more than I should – and most of you do also. Again, another stock that just broken out and that should tack on some nice gains this year.