Net Seller, but Itching to Put More Cash to Work

 | Jul 26, 2017 | 10:38 AM EDT
  • Comment
  • Print Print
  • Print
Stock quotes in this article:














Semiconductor stocks, such as Texas Instrument (TXN) and Advanced Micro (AMD) are helping the Nasdaq outperform, but most stocks are trading water as we await the Fed interest rate decision this afternoon.

This is pretty typical Fed Day action, as traders do some quick trades while they wait.

Breadth is running slightly ahead, but new all-time highs are down from yesterday. Banks are seeing some follow-through, as investors anticipate enough hawkishness from the Fed to result in strength in the yield curve. I sold down some SPDR Select Sector Financial (XLF) , but the chart is still quite attractive.

I've been a net seller so far this morning but am itching to put more cash to work. Names like Weibo (WB) , PetIQ (PETQ) , Sarepta (SRPT) and Lumentum (LITE) are on my radar.

We'll have to wait until 2pm when the Fed news hits, but typically the buyers go to work once Janet Yellen and her cohorts are out of the way.

We are seeing a little more selling pressure as I write, with the small-caps lagging, but it is just random noise at this point.

Columnist Conversations

When the whole world sells off everybody wants to assign a reason for the action. Today's suggestions: 1...
For the first time since early February the down volume as a percentage of total volume on the NYSE is over 90...
So far in 2018, the U.S. stock market has experienced more volatility than it has in all of 2017 and with the ...



News Breaks

Powered by
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.