A Welcome Breather

 | Feb 22, 2013 | 12:08 PM EST  | Comments
  • Comment
  • Print Print
  • Print
Stock quotes in this article:

aig

,

hpq

,

txn

,

ba

,

cat

Always like it when the market catches its breath. I like it when it discerns stories: American International Group (AIG) better than expected, Texas Instruments (TXN) good dividend boost and buyback, Caterpillar (CAT) OK, not good enough to withstand the upgrade, but Hewlett-Packard (HPQ) cheap enough to stay strong. Boeing (BA) still rallying. Wal-Mart (WMT) enduring second-thought profit-taking.

When you see individual stories transcend the broader market, that means that people aren't reacting to "the big call," the sense that "everything's about to go kerflooey," the Gartner boom call, where he says to sell everything after he says he has been incredibly bullish.

The sweeping call is tough to make when the data aren't sweeping. The "buy on pullbacks" call that so many made was, and is, again met by "we need a bigger pullback." I like that, too.

I just want to point out that it is early. That the people who were scared out of their wits and don't want to give up the year's meager gains are scared out of their wits and don't want to give up meager gains.

So no victory dance yet. Instead, I would say you have an appreciably better moment to be able to sell than when you got the Gartner blast, so perhaps you should trim the mixed stuff and not buy yet. 

Columnist Conversations

Volume in the SPY today was nearly double its 50 day average of volume. (The graph at the bottom of the chart ...
Is this the biotech revolution or the biotech bust? View Small Cap Biotechs Like Never Before: Transparency is...
Market got beat like a rented mule today as equities posted their second worst day of the year. Geopolitical ...
down 302 now, at 16577 the dow 30 is unchanged for 2014. roll the media hype!

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.