• 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
    • TheStreet Smarts
  1. Home
  2. / Investing

Stocks Look Lackluster as Markets Await Yellen

Cautious traders aren't doing much dip-buying.
By JAMES "REV SHARK" DEPORRE
Aug 24, 2016 | 10:43 AM EDT
Stocks quotes in this article: ACIA, GRMN, YRD, WATT, LCI, OSUR, SLV, GLD, TPIC, FN, BEAT

The indices closed at the lows of the day yesterday and there was trouble in super-momentum land, which is making traders more cautious so far today. We haven't seen much dip-buying interest, which has become almost routine after these slow starts.

Pressure on momentum names like Acacia (ACIA) , Garmin (GRMN) and Yirendai (YRD) is continuing. Conversely, we're seeing some interest in names such as Energous (WATT) , Lannett (LCI) and OraSure (OSUR) , but it's a real slog for the "hot money" that's been so aggressive with individual stock picking lately.

One group that looks particularly poor right now is the precious metals. Both the iShares Silver Trust ETF (SLV) and SPDR Gold Shares ETF (GLD) have taken out key technical levels and look quite poor. This is obviously a function of concerns about a more-hawkish Federal Reserve.

I've dumped a number of things that have broken down, but am maintaining small positions in some recent favorites like TPI Composites (TPIC) , Fabrinet (FN) and BioTelemetry (BEAT) . However, I want to track these positions for now and wait for the right set-ups before adding to my stakes.

All in all, we're seeing poor action today, but don't forget that Federal Reserve chair Janet Yellen's Jackson Hole speech is coming up Friday and the market loves to love the Fed. If we sell off more into Yellen's speech, you can bet that the dip buyers are going to be looking for entries on Friday.

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, RevShark was long TPIC, FN and BEAT, although positions may change at any time.

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

More from Investing

There Are Interesting Things Happening Beneath the Surface of This Market

James "Rev Shark" DePorre
Aug 8, 2022 4:32 PM EDT

Look for more positioning on Tuesday ahead of two important economic reports.

Can Rhythm Pharmaceuticals Keep Up This Tempo?

Bruce Kamich
Aug 8, 2022 3:01 PM EDT

The stock has surged amid an analyst upgrade.

What AIG's Charts Say About the Stock Ahead of Earnings

Bruce Kamich
Aug 8, 2022 2:03 PM EDT

The stock just tested the underside of the declining 50-day moving average.

Solar Firm Sunrun Continues to Run on the Upside

Bruce Kamich
Aug 8, 2022 1:24 PM EDT

Here's what the longer-term picture looks like.

Weariness Sets in During This Bear Market Phase

Bob Lang
Aug 8, 2022 1:00 PM EDT

Sentiment is starting to turn bullish, but painted with a skeptical eye as the wall of worry is up high.

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

  • 09:24 AM EDT PETER TCHIR

    Jobs Report Reaction: Incredibly Strong, But Questions to Ask

    An incredibly strong July jobs report. Not only d...
  • 08:54 AM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    The Secret to Dealing With FOMO
  • 03:51 PM EDT REAL MONEY

    AMD Second-Quarter Earnings Live Blog

    Real Money's Eric Jhonsa covers 's second-quarte...
  • 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