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The Chartman

Adding Safeway to Your Investing Shopping Cart

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Unfortunately, last week’s prediction of a downside break came true – in spades! – on Thursday.  Friday was a bit of a reprieve, and that lift might continue for a few days.

But, when the market takes a 300-point-plus knock, it usually means there’s more downside to come in the future.

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Of course, there’s always something interesting to buy, so let me show you a stock I picked up on Friday, and a stock with potential.

The latter is Facebook (NASDAQ:FB).  It has stalled since the break from the downtrend, but I’d look to buy if it can clear that resistance.

As for the former, readers will know I shop at and buy Safeway (NYSE:SWY) stock whenever it droops.  That droopiness happened shortly after the last gap up and I bought some early Friday near support.  Now we’ll see if it can rise a bit!

What do you think?

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