Handcuffed, as Usual

 | Dec 13, 2012 | 2:52 PM EST  | Comments
  • Comment
  • Print Print
  • Print

While the market is still optimistic that a fiscal-cliff deal will be made, market players are growing impatient with the politicians and their public statements. While no one takes the daily attacks too seriously, they extract a toll on players anxious to move on to other matters.

Adding to the gloom, Standards & Poor's has put U.K. debt on watch for a downgrade, and Apple (AAPL) is under pressure again. Breadth is running better than 2-to-1 negative on the NYSE, with precious metals taking a hit and biotechnology seeing reversals.

I've been complaining lately about being handcuffed by this market action, and today is even worse. A negative bias, rather than positive bias, has persisted for weeks. The problem isn't that the market is up or down, but that there isn't any volatility or energy. Volume has been running light and the market keeps drifting.

Until there is real action on this fiscal cliff, this dead action is likely to continue. Just stay disciplined and vigilant. Conditions will change eventually.

Columnist Conversations

The cluster of high wick candles that formed in February and early this month may have been a tell, but Linded...
When the tide goes out is when we will find out how ugly things really are. The waters are getting more turbul...
Market ends the month and the quarter on a down note. Indices are largely flat for 2015, in the weakest openi...
Micron is holding a key support zone ahead of Thursday afternoon's Q2 earnings report. Today the stock i...

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.