Stocks Keep Rocking

 | Jan 23, 2018 | 4:34 PM EST
  • Comment
  • Print Print
  • Print
Stock quotes in this article:

txn

,

cree

,

aapl

It is difficult to come up with new ways to describe the unrelenting strength in this market. It clearly is at an extreme level but it is making mincemeat of anyone that dares to challenge the mighty momentum. It will eventually come to an end, but as the old saying goes the market can stay irrational far longer than you can stay solvent.

Weeks ago when I said we need to ride this trend to the bitter end, I didn't expect it would persist this long and be this lopsided. It is a good reminder that it is a mistake to think in terms of what is reasonable when trying to predict the market.

What I continue to find most notable about this market is how many promising charts there are. The indices and some of the big cap names are very extended but when you look at the hot stocks in biotechnology and small cap technology, they are not nearly as stratospheric.

I suspect that it will be some poor responses to earnings that will finally slow down this rampage. I see Texas Instruments (TXN) and Cree (CREE)  reacting poorly to numbers after the close, but there isn't enough of a theme there yet for it to matter. Apple (AAPL) has been lagging the last few days and that hasn't been an issue yet either.

It is hard to not anticipate some market downside soon but, once again, I'll say that you should stay focused on individual positions and let that be your guide to market timing

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

Columnist Conversations

Covered the trade at 360.00 for a quick 10% profit
Small at 400.25
Going to be a last second decision. Leaning toward a small short just before the bell. Either that ... or I si...
We are seeing some very strong turnover with BAC options today, the 'unusual call activity' is pointing toward...

BEST IDEAS

REAL MONEY'S BEST IDEAS

News Breaks

Powered by

COLUMNIST TWEETS

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.


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.

FactSet 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.