Taking a Breather

 | May 16, 2013 | 3:58 PM EDT  | Comments
  • Comment
  • Print Print
  • Print
Stock quotes in this article:

csco

,

wmt

At last, we have a breather. A day where we can catch our collective breath and look at merchandise, and pick, not chase. There are so many companies that have roared ahead that when they finally come down, it's almost as if you can hear people say, "at last, a chance."

Of course, will people take it?

I doubt it. If anything, I think that the shorts will come out and bang down stocks hard because they sense that they have a chance to make back some points. The heavily shorted stocks will fall the hardest -- and not because of profit-taking but due to the same old gang tackling.

I think that real sellers, volume sellers, aren't here and volume buyers are much lower, so we are in no man's land. No earnings. No news. So this is just a breather where we extrapolate the good -- Cisco (CSCO) -- and the bad -- Wal-Mart (WMT).

My takeaway: I want this breather. It is an opportunity to assess and pick. But I bet most people -- except the shorts – will do nothing. They are just too scared to buy unless everyone else is.

Columnist Conversations

Per Brad Safalow at PAA Research, who knows this space better than most: Setting a precedent to go against ESI...
Oil giant Exxon Mobil (XOM) was being dumped last Friday as fears of Russian sanctions were featured in the WS...
WYNN has violated the first key support decision on the weekly chart, but is still holding above the second. I...
The 10yr note, while lower in yield today (currently 2.56%), has seen a 16bp move higher over the past 10 trad...

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.