One Stubborn Market
The dip-buyers care little about the economic slowdown in Europe and have wasted no time buying the early weakness. The Warren Buffett deal to buy Heinz (HNZ) didn't hurt the mood, either, but the issue now is whether the market can generate better upside momentum. It's done a nice job of holding up lately, but it sure hasn't been able to run very much once it gets into the green.
Early breadth is negative, with about 2100 gainers to 2750 losers on the NYSE. Solar energy remains the strongest group, with names like SunPower (SPWR), JinkoSolar (JKS) and SolarCity (SCTY) still running higher. I'm not sure what the catalyst is there, but it's a good example of why you don't try to fight momentum....138 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.