A Mishmash of Action

 | Apr 02, 2012 | 10:43 AM EDT  | Comments
  • Comment
  • Print Print
  • Print
Stock quotes in this article:

EPAM

,

dang

,

gluu

,

swhc

,

aapl

We have "Don't short a dull market" action early on. It looks like too many folks were ready for weaker action but the dip-buyers have stepped up again, and that is creating a squeeze. It isn't wild buying, but Apple (AAPL) is leading the upside charge, and the recent initial public offerings are staying hot.

The bears' biggest problem is that sentiment is already sedate. Despite the recent IPO frenzy, buyers have not embraced this market as you'd expect when we had the sort of run we had in the first quarter. It seems like too many have been fighting the action. When they do get more comfortable that we may finally see more selling, it doesn't last for long.

The big challenge is trying to put idle cash to work. While we aren't breaking down, the pockets of strength are quite narrow. I like the IPO theme and EPAM Systems (EPAM), my stock of the week, in that group is doing well.  Some of the China stocks are active, such as E-Commerce China Dangdang (DANG), and I'm watching Glu Mobile (GLUU) to see if it can gain traction. Smith & Wesson (SWHC), the gun manufacturer, has good early volume and I'm looking to add shares.

It's a mishmash of action, but the bears are finding themselves out of position again and that gives us a boost.

_______

Editor's Links

More from James "Rev Shark" DePorre:

Columnist Conversations

Reports on Tuesday. I am getting a little concerned on how the 2015 guidance will come in.
JCP
Soz doing some more good stuff on retail today-- I loved the JCP piece.. Remember you can follow a writer now ...
Despite a big upgrade from Credit Suisse(from Neutral to Outperform)FDX is relatively flat today. The st...
The Market Vectors Gold Miners ETF (GDX) chart continues to exhibit characteristics of a classic cup-and-handl...

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.