Disappointment Sinks In

 | Jun 28, 2012 | 10:50 AM EDT  | Comments
  • Comment
  • Print Print
  • Print
Stock quotes in this article:






There was quite a bit of conflicting information about the Supreme Court's Obamacare decision, but the core of the health care law was upheld. Chief Justice Roberts created some confusion by saying that the mandate was invalid under the commerce clause but valid under the taxing power. It doesn't much matter what the reason is. The bottom line is that the health care bill is essentially upheld. What is ironic is that the Obama administration was adamant in claiming that this wasn't a tax, but the Supreme Court says the only reason the mandate is valid is because it is a tax.

The market jumped around a bit on the news and there is big movement in hospital and health insurance-related stocks, but the market is rolling over again as I write and disappointment over the ruling sinks in. As I discussed earlier, there shouldn't be any lasting impact on the market as this news is digested. Many will consider it a negative for business, but the election in November will be the final arbiter of the health care law.

I continue to trade Nationstar Mortgage Holdings (NSM) and Nanosphere (NSPH), which I mentioned yesterday, and I am watching another small biotech, Nektar Therapeutics (NKTR), which has an interesting setup. I'm going to wait for things to calm down a bit before pursuing any new trades aggressively.

Columnist Conversations

As you know, all of my questions are respectful- I am trying to understand squaring aggressive option position...
Bobby Thanks for clarifying your strategy in Columnist Conversation -- that was sort of one of my primary poin...
Here is a preview before my Monday article posts. I'm showing time resistance to this most recent rally. You...
I quoted Paul Price in an answer to a question from this week's Live Q&A Chat on TradingWithCody.



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.