Go Greenback!

 | Mar 16, 2012 | 11:19 AM EDT  | Comments
  • Comment
  • Print Print
  • Print
Stock quotes in this article:

aapl

,

anw

,

mitk

,

cie

There's mild profit taking occurring as the week ends. The launch of Apple's (AAPL) new iPad is giving folks an excuse to sell AAPL, but it isn't having much of an impact.

The weak dollar is the biggest positive the market has going for it. That helps commodities and oil, and there is some action in banks as well. Breadth is running about 2300 gainers to 2850 decliners, which is the sort of support that keeps this market running.

In this environment, I try to focus on individual stock-picking more than the big picture. There are charts that are working and the fact that so many folks are so focused on the upcoming collapse makes them work even better. I'm not looking for a long-term relationship with my trades. In fact, a little Afternoon Delight on a spring Friday sounds like the best way to deal with this market.

Bulk shippers are hot and I'm trading Aegean Marine Petroleum Network (ANW) in that group. I continue to like Mitek (MITK), which has the smartphone banking apps, and that is perking up. Cobalt International (CIE) in the oil sector is turning up nicel

_______

Editor's Links

More from James "Rev Shark" DePorre:

Columnist Conversations

The DBC is surging again today. Yesterday the commodity index jumped 3.6% closing above an overhead trend...
What is the purpose of Fed Transparency if it isn't too add some level of certainty? As Time Magazine wrote "...
Wish you had brought some cooler weather with you, we're in a sauna here.
Out on the West Coast -- not in on Monday. So Monday's "Trade of the Week" coming up today in my Diary now. Sh...

BEST IDEAS

REAL MONEY'S BEST IDEAS

News Breaks

Powered by

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.