Shark Bites: Market Gains Aren't Slipping Away

 | Jul 13, 2017 | 1:55 PM EDT
  • Comment
  • Print Print
  • Print
Stock quotes in this article:


























Sustained momentum has been the big issue in this market lately, but so far, the market is holding on to yesterday's gains fairly well. Small-caps, as evidenced by the Russell 2000 ETF (IWM) , are lagging but the senior indices are holding, although breadth is negative. A bounce in retailers is helping a bit and the opticals are leading the technology sector.

While it a powerhouse follow-through move, it qualifies as consolidation and is the sort of action that provides a good foundation going into earnings reports next week. From a trading standpoint, the nice thing about earnings season is that it benefits stock pickers. There will be some standout movers and some good opportunities if you can catch the key names.

I am optimistic about the action I'm seeing in a number of stocks that I've been discussing. Lumentum (LITE) , Everspin (MRAM) , Health Innovations (HIIQ) , ShiftPixy (PIXY) , Nutanix (NTNX) , Oclaro (OCLR) , Alibaba (BABA) and ShotSpotter (SSTI) are all acting well and are attractive going into earnings down the road.

My main measure of market strength is the action I see in individual stocks, and right now it is looking pretty good.

I am long some SPDR Select Sector Financial ETF (XLF) into reports tomorrow from Wells Fargo (WFC) , Citibank (C) and JPMorgan (JPM) . I suspect that the group will continue to be of interest as the central banks slowly raise rates further. (Wells Fargo and Citigroup are part of TheStreet's Action Alerts PLUS portfolio.)

Columnist Conversations

Spent a good amount of time with PayPal CEO Dan Schulman this week...and came away fully understanding why thi...
Has quietly taken a mini beating over the past few weeks. Might be worth a look on Monday given everything tha...



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.