Enjoy the Holiday Spirit

 | Nov 23, 2012 | 10:48 AM EST  | Comments
  • Comment
  • Print Print
  • Print

Folks are busy shopping for great bargains, the market closes early today, and there is probably some pumpkin pie left in the refrigerator so why shouldn't we have upbeat market action this morning? All is well, and traders are running up a few stocks to bank quick gains.

Breadth is very strong, with 3850 gainers to just 1050 decliners, and all major sectors in the green. Precious metals have come to life and are attracting speculative interest for the first time in a while, and biotech and even semiconductors are active again. Research In Motion (RIMM), Nokia (NOK) and some of the other long-term laggards are catching bids.

Trading is a bit frenzied this morning as traders worry that they are missing out. I wish I had a little more exposure here, but I'm still in thinner small-cap names such as Perion Network (PERI), Security National Financial (SNFCA) and Impac Mortgage (IMH). My stops are very tight and I'm inclined to err on the side of taking gains early.

I suspect that next week the mood will become more mixed as the fiscal cliff issue arises again, and European problems fail to go away. For now, we might as well enjoy the holiday spirit.

Columnist Conversations

Our indices closed at the midpoint or so of todays trading range as we go into the last trading day of this we...
I'm not sure Twitter will find its legs until they get a new CEO but I think Periscope alone is worth $10 bill...
The energy sector(OIH -3.5%)is limping into the close. The big equipment names like SLB, BHI, NOV and HAL...
AAPL iMessage, Mail, Backup Photos and other services all down https://www.apple.com/support/systemstatus/



News Breaks

Powered by

Columnist Tweets


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.