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!