Nibbling on the Weakness

 | Nov 09, 2011 | 10:40 AM EST  | Comments
  • Comment
  • Print Print
  • Print
Stock quotes in this article:

wwww

,

ftk

,

cjes

,

mhr

,

pkt

The market is stabilizing after the first bounce attempt was quickly sold. Breadth is extremely poor with just 350 stocks in positive territory, but extreme breadth has been the tendency lately. Gold is the only sector in the green, while oil and financials are leading to the downside.

The million-dollar question is how fast do we bounce back. We know we will have another Europe-is-saved rally sooner or later, but it doesn't look like there is any immediate news on the horizon. Without some sort of rumor to prop us up, we can easily roll over again, especially after the European markets close.

I've been struggling with being underinvested lately, which is actually helpful this morning. I'm inclined to nibble at favorites like Web.com (WWWW), Flotek (FTK), C&J Energy Services (CJES) and Magnum Hunter Resources (MHR) on weakness, but I'm in no big hurry. Procera Networks (PKT) was a new Shark technical buy this morning, and I'm trading it aggressively.

There is a good chance that the early lows will not hold, so I'm taking my time and staying selective. I am optimistic about the opportunities that are setting up, but timing is always the key.

Columnist Conversations

Conclusion This is a very quick note to visualize the solar stock peer group. I'll do some individual stories ...
Conclusion SSYS is one of two giants in the 3-D printing arena and is reporting earnings on November 5th, afte...
Market continues to hold onto impressive gains in the last day of a roller coaster trading month. This month ...
UPS is bumping up against a very heavy layer of resistance today. The stock's 1.6% gain has pushed shar...

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.