Stock Picking Is Now Becoming More Challenging

 | Aug 23, 2016 | 10:46 AM EDT
  • Comment
  • Print Print
  • Print
Stock quotes in this article:




















The indices are pushing into new high territory, breadth is running better than 3 to 1 positive and we have over 500 new, 12-month highs on the screens. Despite all the positives, momentum is a bit tepid. We have strength in the FANG names helping to drive the indices, but the really hot pockets of momentum are sparse.

Biggest movers are Best Buy (BBY) , Daktronics  (DAKT) , Momo  (MOMO) and Tableau Software  (DATA) . There isn't as much interest in the Acacia Communications'  (ACIA) and Twilio's  (TWLO) , which were frantically chased for a while.

I'm finding the stock picking more challenging, but I'm still seeing charts of interest -- like Ocean Power Tech (OPTT) and Quotient Technology (QUOT) . There are too many things drifting -- like Vonage (VG)  and TPI Composites (TPIC) .

It is hard to be negative with the indices acting well today, but the sluggishness in some of the individual names has me increasing my vigilance. I gave back a few gains in the last couple of days, and that is always the most important indicator of all. I'm still bullish and looking to buy, but I'm not going to let things slip much.

Columnist Conversations

we like this chart here, it appears ready to move higher. BOUGHT BZUN OCT 35 CALL AT 3.40
Large-cap, high-quality McKesson (MCK) is too cheap now, at $147.51 or so. The stock hit $243.60 more than 2.5...
View Chart »  View in New Window » View Chart » 



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.