Don't Listen to the Bears Just Yet

The market bears are getting louder and louder lately. And they had to cheer when the Nasdaq failed – twice! – to broach 5K.

And they may well be correct. Eventually, anyway. But for now the trend is clearly up, so I’m staying on the long side.

I’ve been using eBay (NASDAQ:EBAY) a lot lately and thought the chart would look better. Instead, it’s really done nothing for a discouraging few years. I think it’ll eventually break to the upside, but wait for that move before buying.

If you love breakouts, take a look at Gap (NYSE:GPS). Volume was strong, and I’m betting it goes back to the mid-$40s.

Back next week to see if the snow in the Northeast will ever melt.