A Market Chilled by Disappointment

 | Oct 23, 2012 | 11:30 AM EDT  | Comments
  • Comment
  • Print Print
  • Print
Stock quotes in this article:










No real hurry here. Yesterday's blink-of-an-eye rally will discourage people from participating in a similar venture, so any lift, I believe, will be met with selling.

Think about why we are having selling. Earnings? Disappointing. China? Disappointing. Europe? Extremely disappointing.

Only the U.S. is OK, and OK doesn't cut it unless you are in the pure consumer category.

There, however, it's totally nutty. Whirlpool (WHR), Coach (COH), Polaris (PII), Harley-Davidson (HOG) -- they are all great. If you were to ask me, "Name me four companies that make products you can skip," it would be those.

We are in a very strange market. Most people are in a total funk about the U.S. economy. Yet the consumer is really the only game in town.

That said, I think the market's mind has gone from being ready for Europe and China to catch on fire and join the U.S. consumer to asking when the U.S. consumer will start failing like the rest of the world.

What you see right now is the glass getting half-empty after being half-full before Google (GOOG) reported.

I think people will now wait to be sure that the glass isn't more than half-empty after seeing more of the earnings season.

Too soon to nibble unless the yield is greater than 3.5% or a stock has come down to its lows and might just make some strategic sense to buy. 

Columnist Conversations

Hewlett-Packard is ramping today following last night's earnings report. The stock has been well bid sinc...
As we did not fail at key resistance on the way up in the S&P and we also cleared the 5/10 high, this puts...
Market slightly down as it digests two days of gains with less than three hours to go in trading. Oil also sl...
Market flat after two nice day of gains. Oil up above $50 a barrel, will be interesting to see if this restar...



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.