Buy or Get Out of the Way

 | Jul 27, 2012 | 11:31 AM EDT  | Comments
  • Comment
  • Print Print
  • Print
Stock quotes in this article:






The skeptics are being run over this morning as the market continues to anticipate worldwide quantitative easing by central banks. Yesterday's comments about impending action by European Central Bank chief Mario Draghi have been widely questioned, but that hasn't stopped the buyers.

The stronger-than-expected GDP number this morning is also being ignored as the designated Fed mouthpiece from the Wall Street Journal, Jon Hilsenrath, says the Fed is still likely to act. He discusses the inflation data and the slowness of the recovery and concludes that there is still plenty of ammunition for the Fed.

There are poor earnings from Facebook (FB) and Starbucks (SBUX) but Amazon (AMZN) is crushing the bears, who are crazy enough to think valuation matters, and the travel sector has been reinvigorated by Expedia (EXPE).

Aside from macro issues and earnings reports, it feels like the machines are operating their buy programs and happily squeezing the bears and underinvested bulls. That lopsided-type action is killing the folks trying to catch a top.

I'm not participating in this move the way I would like to, but I have a few trades going in Ellie Mae (ELLI), BioCryst Pharmaceuticals (BCRX) and Sarepta Therapeutics (SRPT). Market players are obviously trying to add long exposure as this market runs away from them, and that creates a big supply of dip-buyers.

Columnist Conversations

The cluster of high wick candles that formed in February and early this month may have been a tell, but Linded...
When the tide goes out is when we will find out how ugly things really are. The waters are getting more turbul...
Market ends the month and the quarter on a down note. Indices are largely flat for 2015, in the weakest openi...
Micron is holding a key support zone ahead of Thursday afternoon's Q2 earnings report. Today the stock i...



Columnist Tweets


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.