Downright Dull

 | Nov 12, 2012 | 10:48 AM EST  | Comments
  • Comment
  • Print Print
  • Print
Stock quotes in this article:

srpt

,

fslr

,

trip

,

nte

It probably isn't helping the market that bond traders, government offices and banks are observing Veteran's Day. The opening bounce didn't have much energy and it didn't take long before the indices slipped into the red. The market is back around flat for now with slightly positive breadth, but outside of the biotechnology sector, it is just downright dead.

One of the troubling aspects of this sort of flat action is that it helps to alleviate oversold conditions but it doesn't provide interesting trading action. It is always more entertaining when strong emotions are at work, stretching the market too far and producing a snap-back. Instead, it's a slow drip with just a few stocks of interest. Even the mighty Apple (AAPL) can barely manage to stay green.

The number-one stock on my radar this morning is Sarepta Therapeutics (SRPT), which is finally seeing some bounce and a little squeeze action after a competitive drug was delayed. The shorts have been active on SRPT since its remarkable results in early October, but the stocks has found support lately and is finally turning up. A decent close today should help to resume the momentum.

I'm watching a few other odds-and-ends, like First Solar (FSLR), TripAdvisor (TRIP) and Nam Tai Electronics (NTE), but I see little to do right now. Patience isn't much fun, but there aren't many other choices.

Columnist Conversations

It's been a while since I have shown this chart. For the last 2 years the yields on the Five Year Note have tr...
Ugly end to a challenging week as stocks post around three percent declines for the opening month of 2015. Oil...
I have scaled further into a TLT short - scaling all the way up to $138.35 this morning. And I have scaled int...
Market slightly down despite the boost Amazon (AMZN) is giving the NASDAQ. Biotech also continues to be a stro...

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.