• 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
    • Doug Kass
    • Bruce Kamich
    • Jim Cramer
    • 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. / Financial Services

Trust Level Is Low

The downtrend isn't over yet, so you might as well knock out some trades in the short term.
By JAMES "REV SHARK" DEPORRE
Jun 27, 2012 | 10:40 AM EDT
Stocks quotes in this article: NSM, AMRN, VHC, BNVLF

Opening strength invited a little selling, but better-than-expected pending home sales brought in some buyers. There's probably enough negativity and cash on the sidelines to spike the market a bit, especially as market players watch for headlines out of Europe.

I don't trust this market very much, but oversold bounces and spikes are tradable and you should take advantage while you can. Just make sure you are very clear on holding periods and stay disciplined. The last thing you want to do in a market like this is allow trades to turn into investments.

My stock of the week, Nationstar Mortgage Holdings (NSM), is perking up on the housing data. It services mortgage loans, so better pending sales is good for business. The stock has good early volume and is heading for resistance at the $20 level.

Amarin (AMRN), which I've mentioned often, has important patent news that I believe will take it higher over time. There is likely to be some profit-taking on the move but I'll be looking to add as it finds area of support.

VirnetX Holding (VHC) is another one I've discussed quite a bit and it continues to run on speculation that it may settle some of its major litigation against the likes of Apple (AAPL) and Cisco (CSCO).

LeapFrog (LF), a Shark technical pick, is trying to come out of a nice base but needs volume to gain momentum.

I don't believe that the market downtrend has ended, but we might as well try to knock out trades in the very short term. Just don't drink the Kool-Aid the media will try to sell when we see any positive action.

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 NSM, VHC, LF and AMRN, although positions may change at any time.

TAGS: Investing | U.S. Equity | Financial Services | Stocks

More from Financial Services

Brink's Safely Delivers an Upside Breakout

Bruce Kamich
Feb 24, 2021 8:30 AM EST

Here's how to play BCO stock.

Tyme for Asia as HSBC and South African Online Bank Expand

Alex Frew McMillan
Feb 24, 2021 7:30 AM EST

Europe's biggest bank, HSBC, is in an impossible political situation, caught between London and Hong Kong. South Africa's TymeBank will have it easier expanding into the Philippines.

Square Reports Tuesday, Be Ready to Take Profits

Bruce Kamich
Feb 22, 2021 9:48 AM EST

Now that prices are within striking distance of our target, let's review the charts.

The Trade Desk Charts Are Still Looking Weak

Bruce Kamich
Feb 18, 2021 12:55 PM EST

I continue to see the risk of further declines in the price of TTD.

Does Zillow Stock Still Have Curb Appeal?

Bruce Kamich
Feb 12, 2021 3:03 PM EST

Let's check the charts.

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

  • 08:36 AM EST GARY BERMAN

    Wednesday Morning Fibocall for 2/24/2021

    SPX (Long-Term View) The 2/16 HIGH @ 3950.43 is ...
  • 08:30 AM EST GARY BERMAN

    Tuesday Morning Fibocall for 2/23/2021

    SPX (Long-Term View) The 2/16 HIGH @ 3950.43 is ...
  • 04:52 PM EST CAROLYN BORODEN

    WMT Updated

    View Chart » View in New Window » Since we vio...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2021 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