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The Chartman

Opportunities Abound Even as Wall Street Snoozes

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Well so far, I think it’s fair to throw 2014 into the snoozer category.  The Dow has drifted down, while the S&P and Nasdaq have been pretty much flat.  Of course, the market moves sideways more often than you think, so its no surprise.

And, given the big move it came off from 2013, “sideways” is to be expected.  Given that, I think there’s more upside in store.

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Since we’re now a whopping one week into ’14, I thought it was a good time to look back on some headline stocks from the past year.

Up first is Tesla (NASDAQ:TSLA).  I noted this as a “buy” following a December breakout, and while it’s inched up, it hasn’t hit my 160s target yet.  I’m still bullish on the stock, however.

Netflix (NASDAQ:NFLX) has gotten off to a lousy start, and I’d avoid it for now.  If it can show some renewed strength and break back above that current downtrend line, then I’d buy.  Otherwise, hold your powder.

Back next week to celebrate the one week anniversary of the Polar Vortex!

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