• 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

The Bulls Have the Momentum

Despite the S&P 500 reaching an all-time high, there is some hesitancy to keep chasing.
By JAMES "REV SHARK" DEPORRE
Jul 11, 2016 | 11:00 AM EDT
Stocks quotes in this article: ACIA, VEEV, WB, GIMO, AMZN, BEAT, FN

The S&P 500 managed to hit a new all-time high this morning. The indices are holding onto gains, and breadth is solid -- at nearly three-to-one positive -- but it feels like a sleepy summer morning without a lot of energy. Plenty of stocks are acting well, but it seems that is primarily index driven, rather than individual stock-picking interest.

It is understandable that after the move we've had off the Brexit lows, there is some hesitancy to keep chasing. Entry points are becoming quite difficult. A number of stocks that I've been trading lately -- including Acacia Communications (ACIA) , Veeva Systems (VEEV) , Weibo (WB) , Gigamon (GIMO) , and even Growth Seeker portfolio holding Amazon (AMZN)  -- just aren't at optimal entry points. If you aren't already in, you probably won't feel very good about buying at this juncture.

One long-term, small-cap favorite that is shaping up very well this morning is BioTelemetry  (BEAT) . This is a good example of market players looking for stocks that aren't already extended. BEAT is still in its base, and has not yet broken to new highs.

Fabrinet (FN) , my Stock of the Week, is another example of what I call an anticipatory setup. It has not yet moved over key resistance levels, but if the market continues to act well, then there are good odds it will. Many traders like to wait for actual breakouts to occur, but I've found anticipatory trades allow for greater aggressiveness and can pay off much better.

I've made a fair number of sales into strength this morning, and new buys are not easy, but the bulls have the momentum -- and that is the most important consideration right now.

At the time of publication, Rev Shark was long BEAT and ACIA, although positions may change at any time.

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.
TAGS: Investing | U.S. Equity | Markets | Stocks

More from Investing

Wingstop May Need More Napkins Before It Bottoms

Bruce Kamich
May 19, 2022 8:22 AM EDT

The shares peaked in September and have suffered a painful decline.

Hard-Hit Target Could Turn Into a Bullseye for Savvy Traders

Paul Price
May 19, 2022 7:00 AM EDT

Here's how to play this beleaguered retailer right now.

Why We Should Rally Soon ...

Helene Meisler
May 19, 2022 6:00 AM EDT

... And if I'm wrong, here's what to expect. Let's unpack what happened on Wednesday and how the action could play out over the coming days.

The Market's 'Generals' Are Now in the Crosshairs

James "Rev Shark" DePorre
May 18, 2022 4:42 PM EDT

We've reached the next phase of the bear market, as big names get hit.

These Three Small-Cap Stocks Boast Big Dividends

Bob Ciura
May 18, 2022 3:00 PM EDT

Look beyond the mega-cap names for income investing to the more inclusive -- and often smaller -- Dividend Champions.

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

  • 01:44 PM EDT STEPHEN GUILFOYLE

    Stocks Under $10 Portfolio

    We're making a series of trades here.
  • 03:07 PM EDT PAUL PRICE

    Why Is Walmart Down Big Today?

    Besides its poor earnings report Walmart was way...
  • 07:14 PM EDT PAUL PRICE

    A New, Very Scary Movie

  • 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