Look to Buy Apple, Sell Sirius This Week: Opinion
NEW YORK (TheStreet) -- If something can go wrong, it probably will.
This may not be the healthiest way to approach life, but it has often been my investment approach in what I consider broadly irrational bull markets. Warren Buffett said it another way by suggesting that we "be fearful when others are greedy."
There are a lot of truths in those sayings, both of which imply the importance of protecting oneself.
Over the past several weeks I have remained bearish on the market and discussed stocks that investors should sell leading into what we are seeing now: the pullback or the so called "correction" that we often talk about.
Although the declines are not entirely surprising on some equities, on others, such as Apple, they have raised some eyebrows to the point where it is time for me to re-evaluate what I once perceived to be true.
There have been a lot of corporate headlines during this earnings season and this past week in particular.
But unfortunately they have not been enough to inspire investor confidence to fight off the bear claw currently attached to the head of the market.
What I have begun to realize is that although corporate results look good and an impressive number of companies are beating estimates, investors are unable to make up their minds about what news should matter the most.
One week it is Europe's prolonged fiscal decay. The next week it is the perceived end of QE3. This past week it seemed that investors showed some concern regarding China's industrial activity.
So schizophrenia still dominates the market, and investors are too quick to shrug off solid corporate earnings because of fear about events that don't often matter to the corporate bottom line.
Leading into next week, here are some stocks that will be driving the market in one direction or another.