The Bad Luck Bears

 | Jan 18, 2013 | 1:59 PM EST  | Comments
  • Comment
  • Print Print
  • Print

The bears keep hoping for something to serve as a catalyst to reverse this market but, so far, they are out of luck. They are even trying to spin the potential delay of the debt-ceiling issue as a negative but the market disagrees. When you are short, everything looks like a good reason for a selloff.

I suspect that when the market does reverse, it will occur intraday, after a strong open on seemingly positive news. A negative reaction to good news is when the market starts to top. All we've seen lately is a positive reaction to good news. There aren't many signs of fatigue, although upside momentum has been limited.

I'm bored with today's action. It isn't bad, but the vast majority of stocks on my screens are only making minor moves. I see very little speculative interest and it is probably due in part to the upcoming long weekend and the fact that many traders are already heading out.

The bulls are still in control and pushing. The bears keep looking for reasons why it can't continue and have been dead wrong. The reversal will come, but wait for it instead of anticipating it.

Columnist Conversations

Under Armour has been fading since the opening bell. The stock is off just shy of 1.6% as it extends Frid...
I wrote on RMP last week that I thought CVS Health (CVS) was too pricey. Today independent research firm Trefi...
Shares of Lockheed Martin are pushing further into new all time high ground. LMT is up just shy of 2% a...
We are feeling the pain today with our long GILD calls, these things happen and is why we A. Do not oversize ...

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.