Getting Crazy Cross Currents

 | Jan 17, 2012 | 11:50 AM EST  | Comments
  • Comment
  • Print Print
  • Print
Stock quotes in this article:

fdx

,

ups

,

RTH

,

kss

,

tgt

,

bbby

,

rost

,

tjx

,

slb

,

jjc

We got some crazy cross-currents today. The iPath Dow Jones UBS Copper (JJC), my number one indicator, is flying courtesy of reduce LME inventories and the soft landing in China. That usually goes hand in hand with the transports. Not today, though, with the rails and the FedEx (FDX)/UPS (UPS) complex failing. Sure, FDX and UNP got downgrades today. Still copper is the best tell of worldwide growth prospects, and it is saying to ignore the transports. However, I have been taught to ignore the transports at my own peril.

Meanwhile check out the Retail Holdrs (RTH), which are making a breakout you wouldn't believe possible after the ugly numbers from Kohl's (KSS) and Target (TGT), numbers which I didn't think the strength in Bed, Bath & Beyond (BBBY), Ross Stores (ROST) and TJX Cos. (TJX) could offset.

That breakout is of super significance because it has been so long in coming. Even the HGX has been doing better.

So, a lot of offsets, some critical reversals -- did you see that reversal in Schlumberger (SLB)? -- but a tone that says, "We are still okay from here."

Columnist Conversations

The new Fed Chief said this at a recent meeting of the Economic Club of NY ... "We have indeed had a disappoin...

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.