Market at a Standstill

 | Oct 28, 2011 | 10:48 AM EDT
  • Comment
  • Print Print
  • Print
Stock quotes in this article:




We have a quiet battle this morning, with profit takers and anxious bears looking for a pullback on one side and underinvested bulls trying to add some long exposure on the other side.

So far, they have things at a standstill, with breadth somewhat to the downside but few signs of any aggressive selling.  

If we take out the early lows it should trigger some stops as folks lock in gains, but there is going to be plenty of dip-buying interest to lend support. Lots of folks want in after this giant move and the are likely to be a bit impatient as they are tired of missing out.

One thing of interest this morning is that I'm seeing life in speculative junk names, especially low-priced China stocks. Some folks may dismiss that as a sign of froth, but it makes me optimistic that the hot-money boys may be more active into the end of the year. It has been a while we have had any very strong themes or pockets of momentum. There has been a lot of general strength, but little that stands out as being driven by the mo-mo players. I'll be watching for that theme to develop further.

A few of my favorites like (WWWW) and Flotek Industries (FTK) continue to show signs of momentum, but overall its very quiet action so far. I'm looking for light-volume pullbacks as entry points, but will be willing to chase some strong volume movers if they aren't too extended.

I don't believe the buyers are going to go away too quickly.

Columnist Conversations

our chart of the week worked out nicely! we'll bank this big winner and roll up SOLD BIIB AUG 270 CALL AT...
No news yet, but Ralph Lauren (RL) is surging in early trading. Shares that previously traded as hi...
Good morning. Just a few comments about stocks that are in the news. Forget what I said about Chinese Inter...
Just what is the Fed thinking about these days?  Let's talk about it at 130pm PST (430pm EST), free to at...



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.