Held Back by the Euro

 | Jan 04, 2012 | 10:59 AM EST
  • Comment
  • Print Print
  • Print
Stock quotes in this article:






The euro has lost all of Tuesday's gains and is putting pressure on the U.S. market. We were a bit overbought, and the bulls may have been a bit sanguine about positive seasonality, which is preventing us from gaining much traction.

Breadth is better than 2-to-1 negative, with just precious metals in the green. There is some interest in small oils again due to concerns of an Iran oil embargo. Flotek (FTK), one I've mentioned quite a few times, is breaking out on good volume.

I'm playing a few small-cap names, such as FTK and InvenSense (INVN), but as I mentioned earlier, I'm looking harder on the short side. I've been building a short position in Under Armour (UA), for example, and I will be looking at consumer-related names if gasoline prices start to reflect the higher oil prices we are seeing lately.

This market is ready for some rest, and with so little leadership, it's probably a good time to manage long positions very tightly.

Columnist Conversations

there is some very heavy selling today and poor price action in Facebook today.  in the first hour the st...
Stock has been roasted last five trading sessions. Time to rotate into Ford ahead of big CEO long-term plan re...
Equity futures were up slightly just before 9:30 PM Sunday night.
Spent a good amount of time with PayPal CEO Dan Schulman this week...and came away fully understanding why thi...



News Breaks

Powered by


Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.