If you’ve been a bull this year, you have very little to show for your faith. If you’re a bear? Ditto!
There are options strategies where you could have been making money, but beyond that, it’d have been better to do nothing.
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Still, months of congestion are usually resolved with a splash. So, as soon as we see a break of either support or resistance, look for the subsequent move to be big.
Rule No. 1 of the market? There are no “safe” stocks. Coca-Cola (NYSE:KO), General Electric (NYSE:GE), IBM (NYSE:IBM)? They’ve all had problems at some point. The same is true with Hershey (NYSE:HSY). Who knew chocolate could suffer?
However, the slide may work to your advantage, as the worst may be over.
I’ve looked at buying oil for months but to no avail. What about buying Exxon Mobil (NYSE:XOM) instead? It doesn’t appear that will work either, so be patient.
Back next week to see if this eternal sideways market has any movement at all.