I'd Like to Accumulate

 | Feb 11, 2013 | 10:28 AM EST
  • Comment
  • Print Print
  • Print
Stock quotes in this article:




We kick off the week with a mixed start. 

Traders are still looking for long entries but we don't have much energy so far.   Breadth is a little soft, but not too bad, although sector strength is screwed to the negative. Biotech is leading and there is some interest in solar that is always a theme into the State of the Union address. Apple (AAPL) continues to bounce and that is helping the mood. 

We did bounce off the early lows, but if we retest and break 1514.60 on the S&P 500, look for the bears to press a bit. The bulls are having a hard time generating further momentum, but they are doing a good job of support.

I don't have much new going on at the moment and am mostly focused on managing existing positions. There are a few things I'd like to buy, but they need to show more strength first.

One stock I'll be looking to accumulate is LinkedIn (LNKD). It should consolidate following the big move on Friday, but it will eventually work higher. There are a lot of folks who want in and I expect they will provide a solid bid. My plan is to slowly average in with a loose stop.

Keep an eye on day lows. The bears are extremely anxious to push and the bulls may stand aside and let them for a little while if we take out early support.

Columnist Conversations

volatility is quite low here, and we could see some downsides here in the short term. ...
View Chart »  View in New Window »
this chart is showing great bullish signs here, we like this to take out the old high shortly. ...



News Breaks

Powered by


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.