A Market for Flipping

 | Nov 27, 2012 | 2:03 PM EST  | Comments
  • Comment
  • Print Print
  • Print

The action isn't bad, but it is very slow and there isn't much trading. Breadth has slowly improved and there's leadership from semiconductors, but price action is mostly slow and random.

The good news is that the action is productive. This sort of consolidation is needed to set the stage for the next move. The ideal scenario would be further consolidation and maybe a bit of downside while the fiscal cliff debate continues, then a rally that turns into an uptrend when a deal is eventually made.

That is what I'd like to see, but you can't trade on that potential. All we have are some short-term trades. I would like to have more money in play, but the opportunities just aren't there. It would be nice to load up on fast-moving stocks, but as long as the fiscal cliff issue is out there, the opportunities will be limited.

Overall, I like the way things are developing but it is going to take patience for buy points to set up. In the meantime, it is a market for flipping.

Columnist Conversations

Weyerhaeuser has been struggling since testing the 2013 highs last month. The stock extended a powerful...
GLUU is trading $7.39, up 5.6% with IV30™ up 2.9%. Glu Mobile Inc. (Glu), markets and sells mobile gam...
Some negative sentiment in the market before the weekend. Some bellwethers like Amazon (AMZN) and Visa (V) ge...
Despite the market being down, the day has been dreadfully slow with about the only interesting stock being AM...

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.