Dip-Buyers Shy Away

 | Jan 13, 2012 | 10:45 AM EST
  • Comment
  • Print Print
  • Print
Stock quotes in this article:


The dip-buyers gave it a brief try, but it was too obvious of a play, and the news flow is just too problematic. The weak JPMorgan (JPM) report is an issue, but the chatter that downgrades of euro zone countries could occur at any time is the primary problem.

The market never likes uncertainty, and Standard & Poor's is creating a good amount of it with this vague talk. If we don't see the downgrades today, who will want to load up in front of a long weekend with the potential that we could see this news early next week?

Reports are hitting that France and Austria have been downgraded, but it is only one notch, and we are bouncing back a bit. We'll see if we have some buy-the-news action now, but my confidence in the dip-buyers is low today.

We are due for a trend down day, and I'm just going to stay out of the way and am not going to attempt to bottom-fish at this point. As I wrote this morning, I don't like the setup into earnings season, and this S&P news is just adding more instability. We have had a good move to start the year, and the inclination to protect gains along with the news uncertainty is likely to prevent the dip-buyers from being as aggressive.  

Columnist Conversations

BBY is getting smoked this mornings(weak forecast).  The stock is off 8% after opening the session with a...



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.