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  1. Home
  2. / Investing
  3. / Stocks

Less Energy, More Disinterest in the Market

One of those days where we are digesting the recent action.
By JAMES "REV SHARK" DEPORRE
Jul 25, 2016 | 01:10 PM EDT
Stocks quotes in this article: FN, ACIA, LITE, NPTN, VUZI, AMD, BSPM, APIC

At midday, the indices are hovering at the lows of the day and breadth is sinking to better than 2-to-1 negative. There isn't much energy to the selling, but it is lackluster and feels more like disinterest rather than a shift in sentiment.

There is more political chitchat than stock talk today, but it is one of those days where we are digesting the recent action and waiting for the next to develop. There is no reason to draw any significant conclusions from the action.

The hottest group on my scan is optical. Recent stocks of the week Fabrinet (FN) and Acacia Communications (ACIA) are breaking to new highs and Lumentum Holdings (LITE) , in the same group, is seeing strong interest and Finisar FNSR is developing an interesting pattern.

As far as small-caps that are attracting aggressive traders, my "heater scan" is showing NeoPhotonics (NPTN) , Vuzix (VUZI) , Advanced Micro Devices (AMD) , Biostar Pharmaceuticals (BSPM) and Apigee (APIC) . A couple of these are extended but some of the others may be in position for sustained moves.

We are finally bouncing a bit as I write, but I'm not sure how much of an effort the bulls are going to make.

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James "Rev Shark" DePorre is the author of Invest Like a Shark: How a Deaf Guy with No Job and Limited Capital made a Fortune Investing in the Stock Market. He is founder and CEO of Shark Asset Management, an investment management firm, and he also operates sharkinvesting.com , an interactive online community that serves and educates active investors. DePorre holds business and law degrees from the University of Michigan, is a member of the Michigan Bar Association and a former tax attorney and CPA. He lives in Anna Maria Island, Fla., with his wife and two children. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Rev Shark appreciates your feedback; click here.

TAGS: Investing | U.S. Equity | Markets | Stocks

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