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The Chartman

It’s Time to Own at Least One Security Stock

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It wasn’t a particularly good week for the market and looking back, we can see the ominous double-top formed at Dow 17,000.  After the big August run, though, this isn’t unusual, so I’m thinking we drift to about 16.8K before the Dow makes another run up and through the old high.

There weren’t many positive stocks Friday, but Bank of America (NYSE:BAC) was one of them.  I like the price action and think it’s going back to the March highs.

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Cybersecurity issues are now in the news just about every day, and it makes sense to own at least one company involved in that sector.  Symantec (NASDAQ:SYMC) is a good one and it’s now in a low-risk buying position.

Back next Friday to see if I was right – or dead wrong – about a market rebound!

What do you think?

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