Looking for Reasons

 | Feb 25, 2013 | 2:55 PM EST  | Comments
  • Comment
  • Print Print
  • Print

Pin the tail on what? On the Italian election? Do we think that it really matters for us? Europe's stock markets have been going higher because austerity policies have been in sync with what the central bank wants. This vote could upset the apple cart but, frankly, I think that it is much ado about 3% to 5% in Italy, not here. Bad there, but OK here.

Pin it on House Speaker John Boehner's press conference after the close of the market? That does matter because I presume it will be all about how much the GOP and the Democrats simply can't get along. It's been ages since a Republican has said something good that moves the market higher.

But I think people are setting up short positions to get ready for Fed chief Ben Bernanke's testimony. What's worked of late is this: First, lay out the shorts the day before testimony/minutes, whatever. Second, blast out the futures the moment the testimony goes on to color the testimony negatively. Third, find your way to a microphone or a website and tell it like it isn't -- that it's all bad and the Fed's about to tighten yesterday.

These three reasons are all in play -- alibis that work given the 200-point run we had from the bottom last week.

Random Musings: Kudos to Herb Greenberg for nailing the ITT Educational Services (ESI) stock as a danger zone. It used to be at $40, now it is at $16. Well done. Housing index now down 8.5% from the high. Painful.

Columnist Conversations

To quote CSNY, those Quants/HFT and price momentum strategies "make it hard!" https://www.youtube.com/watch?v=...
Price action over the last two months in Weyerhaeuser(WY) shares has been bounded by channel lines and key mov...
From Chicago PMI release: "While part of this decline may be attributable to the cold weather snap and strike ...
Stocks don't like hawkish comments and until the we can get past them every hawkish Fed announcement will be g...

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.