Bears Put Up a Fight

 | Mar 28, 2012 | 10:58 AM EDT
  • Comment
  • Print Print
  • Print
Stock quotes in this article:




The bears are putting up a little more of a fight today as they have turned back a pretty good dip-buying attempt and have us back slightly in the red.

It isn't exactly a rush for the exits, but there is a bit more pressure out there than we have seen lately. A few big-caps like Apple (AAPL) and Google (GOOG) are helping to keep the indices up, but breadth is slipping slightly and small-caps are lagging.

We are retesting the early lows as I write and that has resulted in another selling push. The time to be more bearish is when the dips fizzle out quickly and trap bulls. The bulls will tend to set stops around the lows of the day and once they trigger the selling can accelerate quickly. A series of failed bounces is what turns an uptrend into a downtrend.

I've been dinking around with some small trades, but I do not like this action this morning and am tightening things up quite a bit. It isn't like there is a great supply of long setups anyway, so being more defensive isn't going to result in too many missed opportunities.

I'm just hoping we can actually stay down for longer than a few hours and shake things up a bit. As I discussed this morning, the consistency of this market has been getting on the nerves of many and a little volatility would be quite refreshing.


Editor's Links

More from Rev Shark:

Columnist Conversations

I reached out last week to my close friend Ken Shreve, who is a prominent writer for the IBD.  I asked Ke...
I reached out last week to my close friend Ken Shreve, who is a prominent writer for the IBD.  I asked Ke...
View Chart »  View in New Window »
we will add this here to cheaply protect our downside a bit BOUGHT SPY SEP 244 PUT AT 2.70 ...



News Breaks

Powered by


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.