The Bulls Keep Pushing

 | Feb 12, 2013 | 10:48 AM EST  | Comments
  • Comment
  • Print Print
  • Print
Stock quotes in this article:

invn

,

amri

,

scty

The indices aren't up much but breadth is solid, there's a good supply of new highs and the tone of the action remains positive. The bulls keep pushing and there doesn't seem to be any reason to dump positions.

Solar stocks are leading again on hopes of a plug in the State of the Union speech tonight. Homebuilders are also seeing a bounce after recent weak action. Gold and silver remain laggards. Apple (AAPL) was seeing a little sell-the-news pressure as it presents at the Goldman Sachs technology conference, but it is perking up as discussion about what to do with all that cash is the focus.

The S&P 500 is hitting a new intraday high as I write and, once again, the bears are being squeezed. As I keep saying, if you want to short, wait for weak action rather than fighting this steady buying. The bulls have the edge and they aren't going away quickly.

I'm sticking with long trades but it isn't easy to keep cash at work. InvenSense (INVN), which I mentioned yesterday, is breaking out very nicely on good volume. Albany Molecular Research (AMRI), gapped up on a good earnings report and strong guidance and I'm averaging into that. SolarCity (SCTY) has been my solar energy play but I'm ready to sell that sector into tonight's speech.

I am going to keep digging, but it is a lot of work finding new setups right now. We need more emotion out there.

Columnist Conversations

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...
Yesterday and today was the classic case of watching realized vol. in the SPX and other indexes jump. The mark...

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.