Fingers Crossed for Some Stabilization

 | Dec 14, 2011 | 10:27 AM EST
  • Comment
  • Print Print
  • Print
Stock quotes in this article:




The market had a nice little "suck-in" to start the day, with early broad strength having been quickly sold. Once again, the aggressive dip-buyers moved very quickly to the wrong side of this market. Those quick little wash-outs really cause negative sentiment to spike, but that is what's needed in order to help set up some sort of roll-over.

I continue to see little evidence that the indices are about to turn back upward, but the first step would be holding above the first-hour lows. If the market stabilizes for a while, we should start to see some buyers inch back in. Right now there is very little trust because the action has been so poor. It will take some time, and positive action, for that trust to build back up.  

Meanwhile, I'm just dinking around with some smaller trades while I wait for the chance to buy bigger positions more aggressively. I see no reason to be an aggressive buyer right now.  

One theme I'm watching today is gaming stocks. Zynga is set to debut tomorrow, and if it prices strongly there should be sympathy action in such names as Glu Mobile (GLUU) and Majesco Entertainment (COOL). I have positions in these and am waiting to see if they start attracting some attention.

Columnist Conversations

DIS has been green since the opening bell and is trading at its best levels of the week with less than 30 minu...
Looks like RUTH will finish the week at new 2017 highs.  Still has room to run, not overbought(MACD).&nbs...
A big THANK YOU to all the men and women in uniform this weekend, and for those who served and paid the ultima...



News Breaks

Powered by


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.