The Trader Daily

By

Bob Byrne

 | Jun 26, 2014 | 7:30 AM EDT
  • Comment
  • Print Print
  • Print

Given the severe beating short sellers have endured in recent weeks, I sincerely doubt any of them felt particularly relieved by Tuesday's bearish reversal. That said, seeing the market rebound on Wednesday and retrace the bulk of Tuesday's sell-off was simply another rusty nail being driven into a quickly closing coffin.

It really doesn't matter what you attribute the market's unrelenting bid to. The bottom line is that being short the indices for any length of time has been a generally poor trading plan. At some point the market will not only bend, but also break. That point, however, is not now. For the time being, short-term participants should consider measuring the market's strength by its ability to remain above a 13-day or 21-day exponential moving average. More intermediate and longer-term folks should remain focused on the 50-day simple moving average....351 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

Read the full story and get access to the Real Money trading floor.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. Staffed with nearly 3 dozen investing pros, money managers, journalists and analysts, Real Money gives you a flood of opinions, analysis and trading advice found nowhere else, and allows you to interact directly with each expert.

Already a Subscriber? Please Login
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.