It's Ugly Out There

 | Dec 05, 2012 | 11:05 AM EST  | Comments
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Stock quotes in this article:

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It's ugly, as Apple (AAPL) sees relentless pressure again and market players move to the sidelines. Things have been holding up well enough lately to keep some bids under the market, but they are disappearing today as market players are less optimistic about an end to the fiscal cliff issue.

In addition, there are bank layoffs, a poor ADP employment number and other worrisome economic signs. With the endless political sniping, there isn't any reason to rush in and buy right now.

I've been complaining lately about how dead the action is, but I'm feeling better about my cash holdings as I watch this action. There is no place to hide and the leadership is very inconsistent.

I'm going to keep looking for trades but I don't expect much. The best thing on my radar is Valeant Pharmaceuticals (VRX), which was a Shark Technical Buy this morning. Other than that, I'm more inclined to take the gains on extended stocks.

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