Energy Is Lacking

 | Jan 22, 2013 | 10:40 AM EST
  • Comment
  • Print Print
  • Print

It's a tough slog this morning as market players cut positions into strength. There's plenty of uncertainty about how earnings season will play out, and since we've already had a nice run, it doesn't hurt to reduce exposure.

Breadth is slightly negative at 2400 gainers to 2700 decliners, but a lack of good upside momentum is the biggest problem. We just aren't seeing gains on strong speculative action. Gold is the leading group, there's minor strength in solar energy and financials, and chips and biotech are struggling.

The dilemma is that the charts are OK but moving too slowly to justify much buying. I like JA Solar (JASO), RF Industries (RFIL), DigitalGLobe (DGI) and Facebook (FB), but my positions are small and stops are tight. There isn't enough energy to be aggressive.

Columnist Conversations

Here is a well defined zone to look for buy triggers against...defining the risk below it! View Char...
this is the FOURTH big winner we have booked on Apple since December. SOLD AAPL APR 135 CALL AT 4.50 (in ...
Garmin is the top gainer in the S&P 500 today following this morning's earnings report. The stock is up ...
Shares of Exxon Mobil  (XOM) have been declining steadily this year, and moved back down to long term sup...

BEST IDEAS

REAL MONEY'S BEST IDEAS

News Breaks

Powered by

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.