Slow but Positive Action

 | Dec 06, 2012 | 4:29 PM EST  | Comments
  • Comment
  • Print Print
  • Print

The market continues its run of positive but very slow action. Apple (AAPL) grabbed most of the attention today but the market had a solid close with positive breadth and gains in the indices. Volume was light and buyers weren't tripping over each other to load up, but the bears are having little success and a foundation of support is building.

There isn't any big mystery as to why the market is acting this way. There is high degree of confidence that a fiscal-cliff deal will be made and market players want to make sure they have some long exposure so they don't miss out. On the other hand, there are doubts about our politician's ability to make a deal, and concerns about the economy even if the fiscal cliff is no longer an issue.

Tomorrow morning brings the monthly jobs news, which may add some urgency to the whole fiscal-cliff debate as there will be even more worries about the economy. Any softness is likely to be blamed on Hurricane Sandy; however, with the recent downturn in many of the economic numbers, confidence will remain shaky.

I wish I could tell you that I'm aggressively buying a slew of great-looking longs, but it continues to be tough to put money on the line. I'm not sure what is going to change that, but if we have to wait until the fiscal-cliff deal is done, it's going to drive many traders crazy.

Have a good evening. I'll see you tomorrow.

Columnist Conversations

As the reports that the ECB is considering buying corporate bonds increase, a report into high-yield bonds sho...
Impressive and very broad based rally as tone has changed in market since middle of last week. Airlines conti...
Conclusion TWTR is growing revenue faster than any other peer. TWTR has worse net income margins than any othe...
THE FIBOCALL SPX-cash: Sometimes the choices are easy and sometimes they are quite hard. The upper end of the...

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.