Out of Step

 | Dec 05, 2012 | 1:12 PM EST  | Comments
  • Comment
  • Print Print
  • Print

If you feel out of step with this market action, you aren't alone.

It's a mix of crosscurrents and aggressive selling of Apple (AAPL) on one hand and strong action in banks due to layoffs at Citigroup (C) on the other. There is strong action in China stocks, which you can see in iShares FTSE China 25 Index Fund (FXI), but there's weakness in precious metals and homebuilders.

Of course, the fiscal-cliff headlines continue to unfold and you never know when one will move the market.

It looks like the algorithms are taking advantage of poor positioning by many traders, pushing to the upside and creating squeeze action in a number of places. That helps produce additional worries about missing the big celebration that everyone is anticipating when the fiscal cliff is resolved.

I took a couple of bad stops on the weak action this morning. That is the price of discipline. You aren't always going to have the best exits, but overall it will save you from major problems, and that is the primary goal.

I continue to struggle to put money to work. Small intraday flips have been my focus, but I prefer loading up on position trades that I can carry for longer than a few days. I don't see much in that regard. Unfortunately, the action isn't helping to set things up better.

Columnist Conversations

I have scaled further into a TLT short - scaling all the way up to $138.35 this morning. And I have scaled int...
Market slightly down despite the boost Amazon (AMZN) is giving the NASDAQ. Biotech also continues to be a stro...
There are a number of interesting technical signals on the weekly and daily Berkshire Hathaway (BRK/B) charts....
TheStreet breaks down three things a newly minted publicly traded Shake Shack must do to have success...and ke...

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.