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The Chartman

Friday's Decline Leaves Wall Street Full of Buying Opportunities

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Last week, I started looking at some 2012 picks I made in a December edition of Follow the Money.  Today, I continue the journey.

But, before I get to that, a quick look at how the Dow’s been doing. And the answer is “just fine” even with Friday’s decline.  I don’t think Friday was anything serious, and personally used it to do a small bit of buying.

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As for my 2012 picks, let’s start with Home Depot (NYSE:HD).  I went that route because while housing is inching back, housing improvement is coming back even stronger. Still, watch the downside on this one. That narrowing triangle has me a bit worried.

One stock I’m not too worried about is Goldman Sachs (NYSE:GS).  Even if Europe blows up (again!), I like this on any decline as I’m confident these guys can figure out how to make money in just about any environment.

Next week I’ll give you a glimpse of some of the stocks I don’t consider trades, but – gasp! – are good long-term investments.

What do you think?

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