The Slightest Whisper Moves This Market

 | Nov 28, 2012 | 12:57 PM EST  | Comments
  • Comment
  • Print Print
  • Print

The most interesting thing about the action today is that no one really said anything new. We simply had some repetition about how important it is to make a deal to avoid the fiscal cliff and some vague comments about willingness to be flexible.  

It may not be substantive, but that was all that was needed to light a fire under the market. Clearly, market players are optimistic that a deal will get done, and they are nervous about missing out on the inevitable rally that will occur when it happens. Thus they jump in at even a hint of progress, although it really is nothing but a negotiating ploy by both sides.

The difficulty is that while we are celebrating at the moment, you can bet that we will have a setback again very soon when a deal isn't made and the politicians start blaming each other. It sure looks like the market is going to keep dancing around as this negotiation plays out and nothing much else will matter.

I'm a bit frustrated that I don't have more going on, but it's a market for intraday flipping and little else. If you catch the move, you can't hang around for long. In fact, just buying weakness and selling strength on an intraday basis is about the best trading strategy to employ right now. Forget holding anything -- just make sure you flip them. 

Columnist Conversations

US Steel is surging today following yesterday's earnings report. Shares are up over 9% on very heavy trad...
Some analysts think we will make new highs....some think the BIG correction is going to start to play out. I ...
I haven't been able to contribute to the Columnist Conversation like I used to in the old days and want to aga...
The DJIA made it back above the May/April low level; the S&P 500 Index bounced off a similar level and its...



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.