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The Chartman

Wall Street Needs a ‘Time Out’

The ChartmanFOXBusiness

Well, 2014 hasn’t been spectacular so far.  But, c’mon: we’re two days into the year and already people are freaking out a bit about the initial selloff.

Honestly, I don’t think it’s that bad.  Remember, the market went straight up after the breakout and now needs a “time out” just to cool off.

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Of course, if we get another day like Thursday, then I’ll start to be worried.  But, so far, I think the market has more fuel left to burn.

The past two weeks I’ve shown just how wonderful a trader I am.  No doubt due to some real self-esteem problems!

However, I have a fair number of clunkers each year that require patience, nursing, and sometimes a strong stomach.  Keep in mind, though, most of my trades are in stocks I know and love.  So, if they decline a bit … I generally buy more.

First up is Safeway (NYSE:SWY).  It’s made a number of feeble attempts, but overall, it’s been a dog.  But, I still see people shopping there, so I’m holding.

My other hurt locker has been Apple (NASDAQ:AAPL) of all things.  Isn’t this a stock that always goes up?  I played it a few times this year, but maybe overextended my stay this time!

Back next week to see if 2014 has any friends left.

What do you think?

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