We Need Bigger Names to Bounce

 | Mar 12, 2014 | 10:43 AM EDT  | Comments
  • Comment
  • Print Print
  • Print
Stock quotes in this article:

goog

,

yelp

,

celg

,

gild

,

wday

,

csod

,

cnqr

Seeing a bounce. Is it sustainable? Any bounce has to be led by legitimate Nasdaq stocks, as that index has been down for five days now. The baton must be passed from Ballard Power Systems (BLDP), Plug Power (PLUG) and FuelCell Energy (FCEL) to Google (GOOG), Yelp (YELP) (good news with Yahoo! (YHOO) tie-up), Celgene (CELG), Gilead (GILD), Workday (WDAY), Cornerstone OnDemand (CSOD) and Concur Technologies (CNQR).

Why is this? Because that would show that the froth is being run down and that the "blue chips" of the Nasdaq are beginning to get money in after a nice rest.

If we don't see this, by the way, and if we return to the willy-nilly buying of the fuel-cell stocks (I am doing a video with Dan Dicker about these today) and Fannie Mae and Freddie Mac, then I can tell you we are not done going down.

Yes, indeed, it is that binary. Kind of scary binary, because a lot rests on the speculators being crushed for the next leg higher.

These stocks can't all go up at once. This is a time-honored dichotomy, and to the victor goes the bull if we get more established Nasdaq names to stabilize, or to the bear if we don't. 

Columnist Conversations

3 insiders sold a total of 518,620 Starbucks (SBUX) shares for proceeds of $43.449 MM. 4 insiders dumped 558,1...
Yum Brands saw both insider buying and selling reported last week. One insider bought 10,000 shares for about ...
The bearish star cluster on the Starbucks (SBUX) chart that I highlighted last week preceded price action this...
Ford is working on its third straight gain following two days of steep loses to start this week. At this...

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.