Boring but Healthy Action

 | Mar 06, 2013 | 4:05 PM EST  | Comments
  • Comment
  • Print Print
  • Print

It has been a very quiet day but the market held up well, which is healthy after the euphoria over the new highs. The dip-buyers bought the midday lows and breadth improved nicely. We didn't have any wild momentum but a slew of new highs were reached and plenty of stocks continued to act well.

The bears might complain that the action is too complacent and unworried, but I suspect the bigger worry is being underinvested and missing out. The way this market has acted recently resulted in plenty of poor positioning and there is an appetite to put cash to work without buying anything too extended. Unfortunately, finding things that aren't extended is not easy as new highs continue to pour in.

My biggest complaint about this market is that it is downright boring. Many stocks are walking up slowly, but we are still missing the excitement we used to see at new all-time highs. The media is working hard to paint a positive picture, but I'm not seeing a return of retail excitement.

My strategy is to stick with the trend and keep adding long trades as I find them. I see no reason to fight the bulls and the fact that it isn't that easy to buy probably means that it just keeps on going.

Have a good evening. I'll see you tomorrow.

Columnist Conversations

TSLA is trading $256.11, down small with IV30™ down 3.6%. TSLA stock is up 1,068% in three-years and i...
q's didnt bite on the bull move, the russell 2k was doggie and the close was suspect. and i have the short ter...
Lang:
Besides the fact the chart looks great, someone came in with the heavy artillery today in the Oct 22 calls - o...
S&P 500 right at all time closing high as we head towards thee final 45 minutes of trading. Interestingly...

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.