Another Sleepy Session

 | Aug 14, 2012 | 11:33 AM EDT  | Comments
  • Comment
  • Print Print
  • Print
Stock quotes in this article:

aapl

,

goog

,

nsph

,

swhc

,

pfmt

,

kors

Once again, the market started the day with a little vigor and then went to sleep. This has been one of the slowest periods in quite a while, and there doesn't seem to be any immediate catalyst to shake things up.

There is nothing wrong with the action, as it is holding steadily with Apple (AAPL) and Google (GOOG) doing much of the heavy lifting, but we continue to see little aggressive action in other areas of the market. Small-caps continue to lag and there aren't any obvious pockets of momentum.

I suspect that overanxious bears, who have been looking for a pullback for a week, are providing constant short-squeeze fuel, and there are many underinvested bulls inching in because they aren't seeing dips to buy.

Breadth is better today, and there continues to be excellent support, but the thinness and the slowness of the action don't contribute to aggressiveness.

I've been nibbling at a few things, including Nanosphere (NSPH), Smith & Wesson (SWHC), and my Stock of the Week, Performant Financial (PFMT). I have my eye on Michael Kors (KORS) for a chase, but I'm waiting until later in the day before doing anything sizable.

Columnist Conversations

The semiconductor sector performed poorly today with the Market Vectors Semiconductor (SMH) fund down over 2% ...
Is this the biotech revolution or the biotech bust? View Small Cap Biotechs Like Never Before: Transparency is...
ive tried to sense how these new rules can possibly be good for the mkt--and struck out trying. the investmen...
Skip Raschke and I have been talking about THIS behind the scenes. Note the following excerpt: "The rules also...

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.