Not a Lot of Energy

 | Sep 04, 2012 | 10:45 AM EDT  | Comments
  • Comment
  • Print Print
  • Print
Stock quotes in this article:

aapl

,

amzn

,

ibm

,

pfmt

,

aig

We have very lackluster action in the early going. The talk about central bank action is getting old and there just isn't any other positive news to drive things.

It is a bit sad that the biggest possible catalyst is that the economy is so weak that we need worldwide action by central bankers. The mood is just a bit downbeat this morning and market players aren't show any energy so far.

Despite the dour action we have Apple (AAPL), Amazon.com (AMZN), IBM (IBM) and a few other tech names performing well. Gold and silver are following through and traders are looking for some action in those names.   Breadth is sliding and other than precious metals the only thing that is up are pharmaceuticals, which may not be a good thing since they are typically a safe-haven play.

I'm playing some defense this morning and taking a few stops here and there. AIG (AIG), which was last week's stock of the week, is trying to break out. It made it through $35 and pulled back, but is ready for another try.  Performant Financial (PFMT), another recent favorite, received some initial coverage this morning, including a Buy and a target of $16 from Goldman.

While the action is poor, I'm not overly negative at this juncture. I'm staying opportunistic and am not ready to declare the end of the recent rally yet. 

Columnist Conversations

Kass:
Monitise has announced the sale of additional stock to Telefonica, Santander and Master Card. Expands relation...
Lang:
Lights, Camera, ACTION! This move lately in GPRO has been stellar, up nearly 12% over the past couple of sess...
For just under two weeks MCD has been bumping up against a very solid wall of resistance. The $96.95 to ...
Texas Instruments is surging today. Shares are up over 2.7% and are moving further into new 52W high gro...

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.