Slow Going

 | Sep 17, 2012 | 10:44 AM EDT  | Comments
  • Comment
  • Print Print
  • Print
Stock quotes in this article:

hlss

It is very slow going this morning. The market is a bit hungover from the Fed and Rosh Hashanah is thinning the ranks a bit. Breadth is weak at 2-to-1 negative, but a few the old big-cap favorites such as Chipotle (CMG), Intuitive Surgical (ISRG), Priceline (PCLN), Apple (AAPL) and F5 Networks (FFIV) are acting well.

Since the market went up so much so fast, there is likely to be some dip-buying support, so if it doesn't weaken I'm not looking for it to go too far or last too long. There are too many underinvested bulls looking for entries for the market to fall apart now.

My Stock of the Week, Home Loan Servicing Solutions (HLSS), is off to a good start. HLSS is in the mortgage-servicing industry and has been buying loans from OCN. This is my play on the Fed's buying of mortgage-backed securities, and since the stock pays a dividend of around 7.6%, it should have good support.

I'm tempted to try Direxion Daily Small Cap Bear 3X Shares (TZA) today as the market tests the lows of the day, but I have no plans to do much on the dark side until this market exhibits real weakness. Right now, all I see is healthy drifting on light volume.

Columnist Conversations

It's been a strong month for oil so far, but as we come out of the holiday weekend, it is likely that we will ...
WMT's new domestic-store only, money transfer service looks to be a brilliant move. The retailer is undercutti...

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.