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The Chartman

Stocks Acting Better, But They’re Still Shaky

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Interesting.  Last week I was mildly bullish on the Dow, but more wary on the Nasdaq and S&P. And that’s pretty much how it played out this past week, with the Dow gaining a solid 2.5%, while the S&P was up about 1%, and the Nasdaq actually declined about 1%. 

Overall, though, I’m still tepid about the market…..

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…..despite the fact the Dow is strong.

Now if you believe the Dow story and fall into the bull camp, I like the auto sector and particularly Lithia Motors Inc. (NYSE:LAD).

If you’re more bearish, though, and think the Nasdaq is the story, then I’d wait for a stock like Apple (NASDAQ:AAPL) to fall further (probably to the area I indicated below) before buying.

Regardless of how you feel, though, I think there could be some wild moves in the next few weeks.

What do you think?

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