Broadcom (AVGO) reminds you, yet again, do not give up on this market. Demandware (DWRE) says do not give up on this market. Gap Stores (GPS) says do not give up on this market. Johnson & Johnson (JNJ) says do not give up on this market.
As a defender of the tape, I think we have to see this market for what it is: an episodic journey where some stocks advance and some are left behind and you can settle for average as so many do because it is so difficult to spot the great ones.
Or you can do the homework, examine the stocks, like a Broadcom, which was such a fabulous combination with Avago, or an NXP Semiconductors (NXPI), which is amazing when merged with Freescale, or a JNJ, which actually gained traction when it bought a hair-care company.
Taken separately, it's a vast miasma of just OK-edness. Taken together as you examine all of these situations, you realize there's more good than bad.
For example, tonight I had NuVasive (NUVA) on Mad Money. Taken from the surface, it's a medical device company going up against Medtronic (MDT) and JNJ. Good luck.
But when you listen to CEO Greg Lucier talk about how proprietary the technology is and you recognize that he has created a vast suite of back products for all ages and difficulties, you know this company can stand alone or be bought in a heartbeat by anyone who wants to dominate the back space, which is huge given how many baby boomers are coming into back problems right now.
Anyone who listened to Lucier last time he was on Mad Money heard about some remarkable gene-sequencing machines his company back then, Life Technologies, had developed. Not long after his appearance, the company got a monster takeover bid from Thermo Fisher (TMO). (NXP Semiconductors and Thermo Fisher are part of TheStreet's Action Alerts PLUS portfolio.)
Lucier had been at that company for more than a decade. He just got to NuVasive a year ago, but the transformation is so palpable it's incredible.
Again, not saying great tape. Just taking issue with the complacent bearishness to say open your eyes. NuVasive, NXPI, Broadcom, Demandware. These are not random events.
They are purloined letters of opportunity.