Waiting for Opportunities

 | Aug 19, 2013 | 3:38 PM EDT  | Comments
  • Comment
  • Print Print
  • Print
Stock quotes in this article:






I just sent Matt Horween, my colleague and co-conspirator on Real Money, an email when the market was down 25 points asking, "Why the heck aren't we down more given the bond selloff?"

His answer, 10 minutes later? Now we are.

So it goes. We have a soggy market and the bonds are making a run for 3%. The banks are being penalized for the slowdown that's expected in mortgages but not benefiting from a yield curve that could mint them big money.

Industrials have run a lot, but we have no new information to trade off of. Tech's a mixed picture, although it is beginning to feel a lot like the old days with only Apple (AAPL) and Google (GOOG) going up. Retail's trying to make a stand and I think it could be a successful one given how low the group's gotten. But I think people would rather play $77 for Home Depot (HD) knowing it is good than $75.50 not knowing anything at all.

It's funny, Stephanie Link, co-manager of the Action Alerts PLUS trust, and I keep going back and forth looking for stocks to buy. This is something you should be doing since the Dow Jones Industrial Average has moved down for four straight days, but so few stocks jump out at us. It's been water torture. Unless you get a big break nothing seems to jump out -- and the big breaks come because something's very wrong.

So, we stay sidelined with lots of cash. Wait for opportunities, like the oils, which have been coming down, but not down big enough, or the financials where the logic is exactly the same. 

Columnist Conversations

To quote CSNY, those Quants/HFT and price momentum strategies "make it hard!" https://www.youtube.com/watch?v=...
Price action over the last two months in Weyerhaeuser(WY) shares has been bounded by channel lines and key mov...
From Chicago PMI release: "While part of this decline may be attributable to the cold weather snap and strike ...
Stocks don't like hawkish comments and until the we can get past them every hawkish Fed announcement will be g...



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.