The Downtrend Continues

 | Nov 14, 2012 | 2:30 PM EST  | Comments
  • Comment
  • Print Print
  • Print

The day is winding down and the market is making new lows. President Obama's press conference did nothing to reassure the market that a fiscal cliff deal is forthcoming and the minutes of the FOMC meeting made it sound like the Fed is pretty much out of bullets.

In other words, we have no positives to entice buyers into this market so the downtrend continues.

Respecting that we are in a downtrend and not trying to predict a market turn works well, and I continue to see no reason to change that stance. We'll have a bounce eventually, but as I've often said, trends tend to last much longer than most people think is reasonable. Those who were fighting the uptrend in August and September are the same people fighting the downtrend now.

Respect the trend.

Columnist Conversations

I am still watching MON for a possible reversal against the time/price parameters. So far we are not seeing a...
Market stages nice comeback from early losses to end basically flat. Gilead Sciences (GILD)has a nice day post...
Is this the biotech revolution or the biotech bust? View Small Cap Biotechs Like Never Before: Transparency is...
DRI
Going to $47 without Otis...

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.