Just Dinking Around
The pattern of very slow but generally positive action continues and it is likely to be even slower later in the day as market players leave early for the long weekend. Breadth is running about 2700 gainers to 2100 decliners and there's strength in homebuilders and pharmaceuticals, but most sectors are in the red. Oil is weak and gold, in particular, continues to be pummeled.
In this market we are relegated to what I call 'dink' trading. You try to capture a few pennies on quick trades but can't really build positions or be too aggressive. I have trades in BioFuel Energy (BIOF), Kors (KORS), CVR Refining (CVRR) and Blackstone (BX). I'm also focusing a bit more on shorts and have positions in Whole Foods (WFM) I'm looking to add to....36 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.
