The Stage Is Set
The indices didn't make a big move this week but managed to add about 0.5%. What was most impressive was the strength of the underlying support. The market closed near the highs on four of the five days and intraday weakness didn't last long.
A number of bears are arguing that this is a negative because it indicates that too many market players are overconfident and at high risk of being caught in a reversal. While there is obvious buying interest, I'm not seeing wild speculation or overly aggressive buying. It is mostly solid stock-picking, which is nice to see after the the market's behavior during the fiscal-cliff debate....131 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.