• 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
    • Trifecta Stocks
  1. Home
  2. / Investing
  3. / U.S. Equity

This Market Favors Making New Highs

Any bears trying to time a top are likely to be squeezed.
By JAMES "REV SHARK" DEPORRE
Jun 06, 2016 | 10:52 AM EDT
Stocks quotes in this article: ACIA, TCK, EVH, FIVN

The market seems to be expecting friendly comments from Fed chief Janet Yellen this afternoon. That is probably not a bad speculation, as she is likely to temper some of the recent hawkishness and emphasize again that the Fed is "data dependent." This market has always preferred a dovish Fed to economic growth and that still seems to be the attitude.

There's strong market action this morning with oil leading the way and very solid breadth of better than 2-to-1 positive. There is a dip in biotechnology, but that is being shrugged off, and big-cap technology names are acting well. Some of my recent favorites include Acacia Communications (ACIA), Teck Resources (TCK), Evolent Health (EVH) and Five9 (FIVN).

I continue to embrace the thesis that the indices are going to break out to the upside soon. I have no idea if they will be able to build momentum beyond that, but I believe the psychology of this market favors new highs. Any bears trying to time a top are likely to be squeezed first.

I've often written that the market loves to love the Fed, and that dynamic is likely at work for Janet Yellen's speech this afternoon. The bears keep thinking they are finally going to have a negative catalyst, but there still are far too many underinvested bulls looking to put money to work.

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 was long ACIA, TCK, EVH and FIVN, although positions may change at any time.

TAGS: Investing | U.S. Equity

More from U.S. Equity

When Did We Stop Worrying About the Wealth Effect?

Peter Tchir
Jul 5, 2022 1:00 PM EDT

This looks like a market pricing in a recession/policy mistake.

An Encouraging Development in a 'Terrible' Stock Market

James "Rev Shark" DePorre
Jul 5, 2022 11:20 AM EDT

There's a bright spot, but it needs to be sustained.

Valuation and Market Sentiment Face Off Against the Charts

Guy Ortmann
Jul 5, 2022 10:45 AM EDT

Let's check the latest index charts and market data.

3 'Hiding Places' for Investors to Shelter in This Bear Market

Stephen Guilfoyle
Jul 5, 2022 10:00 AM EDT

These stocks have done me right of late, and are in better technical shape than the market.

Food for Thought on 2 Restaurant Stocks

Paul Price
Jul 5, 2022 7:00 AM EDT

Being approximately correct in your timing decisions is all you need to make a ton of money.

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

  • 12:01 PM EDT PAUL PRICE

    A Recent Director Buy in Children's Place (PLCE)

    Four of the most recent insider trades in Children...
  • 07:34 AM EDT PAUL PRICE

    A $525,000 Vote of Confidence on Macerich (MAC)

  • 09:49 AM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    Stop Wishing, Hoping, and Praying and Take Control...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2022 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