• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • TheStreet Smarts
  1. Home
  2. / Investing
  3. / Stocks

Downside, but No Momentum

We are still in an uptrend, and today's little hiccup did nothing to change that.
By JAMES "REV SHARK" DEPORRE
Mar 20, 2012 | 04:29 PM EDT
Stocks quotes in this article: AAPL

The bears finally managed to produce a little downside, but it didn't come easily. Strength in Apple (AAPL) kept the Nasdaq and Nasdaq-100 close to even, while the other indices managed to finish well off their midday lows. Breadth was a slightly better than 2-to-1 negative but volume was very light and there was no rush for the exits. In fact, if you are looking for downside momentum, you will really need to dig to find any big volume declines.

The tendency of this market lately is to quickly regain its footing after a brief bout of minor selling. The bears have not been able to produce any meaningful downside follow-through since mid-December, and there is nothing in the action today to indicate that this market is undergoing a major shift.

The big temptation in a market like this is to keep looking for some sort of dramatic change in market character. The longer we go with the same sort of action, the greater the inclination to look for conditions to shift. You can miss out on a lot of good trading while waiting for the next shoe to drop and you have to consciously force yourself not to do that when there is nothing in the market action that is particularly negative.

We are still in an uptrend, and today's little hiccup did nothing to change that. In fact, this sort of action is what we need for the trend to continue higher. I'd like to see even more basing but buyers have been too impatient for that and continue to exhibit the same inclination after just a few hours of weakness.

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

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

At the time of publication, Rev Shark had no positions in the stocks mentioned.

TAGS: Investing | U.S. Equity | Stocks

More from Stocks

The Bears Just Moved Into Wall Street

James "Rev Shark" DePorre
Sep 22, 2023 4:26 PM EDT

Technically, the bears are in control of this market now.

Don't Be a Sap and Step Into a Value Trap

Bret Jensen
Sep 22, 2023 12:30 PM EDT

There are plenty of stocks that look like value plays but aren't as the market continues to drag more share prices down.

My Stock Pick for the Rest of 2023? The Big 'B'

Stephen Guilfoyle
Sep 22, 2023 11:17 AM EDT

Here's why I'm going with a diversified value name.

Stocks May Bounce, but This Is Far From an 'All Clear' Signal

Guy Ortmann
Sep 22, 2023 10:15 AM EDT

We suspect any bounce would likely be one within an ongoing correction.

The Probability of a Selloff Is Greater Now Than at Any Point This Year

Ed Ponsi
Sep 22, 2023 10:00 AM EDT

Selling by skilled traders who are reading the technical signs and are trying to cut their losses could propel stocks even lower.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 12:20 PM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    Trading in Multiple Time Frames
  • 10:24 AM EDT BRUCE KAMICH

    This Could Get Messy

    A number of key stocks are getting close to import...
  • 01:41 PM EDT CHRIS VERSACE

    Latest AAP Podcast With Helene Meisler!

    Listen in as the Action Alerts PLUS podcast talks ...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2023 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

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.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login