Fading After the Open

 | Jan 17, 2012 | 10:34 AM EST  | Comments
  • Comment
  • Print Print
  • Print
Stock quotes in this article:

c

,

kkr

,

jva

,

invn

,

vhc

,

mhr

Once again we have soft action following a gap-up open. If the pattern holds we should see some dip-buying as we pull back, but typically we are unable to gain much momentum intraday. If you weren't in for the open, it becomes extremely challenging to find entries. It isn't that breadth is poor, but that we don't have intraday momentum.

Breadth is approaching 3-to-1 positive and all major sectors are green except for natural gas (once again). Gold and retailers are the standouts but there is still no clear leadership. Citigroup (C) is obviously a drag but overall financials are handling it pretty well.

I flipped a few things on the open and am trying to put some new money to work, but with little success so far. KKR (KKR) is my stock of the week, and that is looking pretty good. Coffee Holding (JVA), which I mentioned last week, is percolating and may attract some attention, and InvenSense (INVN) is obviously on the hot-money radar -- but most of the small-caps I'm watching like VirnetX (VHC) and Magnum Hunter (MHR) are not gaining traction.

We continue to fade as I write and I'm going to keep a tight rein on positions. I'm itching to be more aggressive with some longs but I'm just not seeing much energy.

Columnist Conversations

I used the big drop following Boulder Brands (BDBD) earnings report to close out my 'Best Ideas' short of BDBD...
Tim C., GDXJ certainly ranks high in the "buy low" department, but I think that's about it. The relative perf...
While Google (GOOG) has moved in sympathy with the overall market's "V" recovery rally off of last week's low,...
Just got off this interview for TheStreet with Dunkin Donuts' CEO. Interesting stuff learned. Big takeaway: t...

BEST IDEAS

REAL MONEY'S BEST IDEAS

Columnist Tweets

BROKERAGE PARTNERS

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.