Not Ringing the Alarm Bells

 | Feb 04, 2013 | 6:13 PM EST  | Comments
  • Comment
  • Print Print
  • Print
Stock quotes in this article:

nflx

,

hum

,

fdx

,

s

,

df

,

mro

,

san

,

mhp

,

yum

Can you really get a huge selloff based on some potential upheaval in Spain and Italy? I have always regarded the diminution of the European situation as a simmering negative, meaning that it could always grow back in size. But in the interim there has been enough good here that I am not quaking in my boots, and I'm looking for things to buy.

Here's my thinking. Look at what worked today. Netflix (NFLX) should have been dinged no matter what. I mean the darned thing has been up 100 straight points. Humana (HUM) shouldn't have been able to run like it did on a quarter that was added by one-time issues like the flu. FedEx (FDX) rallies on a upgrade? Sprint Nextel (S), Dean Foods (DF), all move up nicely after being challenged lately? Marathon Oil (MRO), a refiner that has gone up endlessly, goes up again?

You shouldn't be able to have any rallies of this sort if we are really in a bad way.

I believe we will know rather quickly if the damage in Europe is running its course. We just need to follow Banco Santander (SAN), the Spanish bank that has been the bellwether the whole time that Europe has been ailing and healing.

I'm watching McGraw-Hill (MHP) and Yum! Brands (YUM) to see how horribly horrible news is taken. I think that McGraw-Hill will beat any rap that the Justice Department throws at it.

Yum? We will just have to wait and listen. 

Columnist Conversations

The first casualty of the Russian currency crisis outside of Russia is Belarus. The central bank hiked interes...
My sense is that if yesterday's upmove was not the start of a vertical upside blow-off that is heading directl...
Oracle is today's top gainer in the S&P 500 following last night's Q2 earnings report. The stock op...
If AAPL is going to continue to rally....this cluster zone and prior swing high need to be cleared! This is 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.