Last week I was pessimistic about the market moving up and we did see a small pullback. I don’t think it’s panic time, but a further drop to the uptrend line seems reasonable. If that happens, it may be time to start buying.
Oil stocks have been strong, and with worldwide tensions high, I’d take a look at ExxonMobil (NYSE:XOM) (which I own.)
UPS (NYSE:UPS) pretty much followed the market down this week, but when a stock falls to a solid uptrend line, it’s time to start wading in.
Back next week to see if the market can stop the slide.