Searching for Momentum
We have gap-up and churn action today as we await the Fed's FOMC interest rate decision. The tendency of the market intraday lately has been to have very strong underlying support and some dip-buying, but not a lot of upside momentum. We hold up extremely well, but other than a handful of big caps like Apple (AAPL) and IBM (IBM), there isn't much sustained strength.
The two biggest momentum movers on my radar today are InvenSense (INVN) and Coffee Holding Co. (JVA). That is very narrow, and we have strength in a very odd mix of stocks, including Barnes & Noble (BKS), Cracker Barrel (CBRL), Carmike Cinemas (CKEC), and Cal-Maine Foods (CALM). If there is a theme, I'm not sure what it is....191 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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