It's Tough to Trust Momentum Right Now

Strength in biotechnology and big-cap momentum names is helping to create a more positive tone today. The Nasdaq is leading, with a gain of nearly 0.5%, but breadth is running close to even. There are only about 115 new 12-month highs, but the strength in biotechnology for a second day, and some bounce in key names like Apple (AAPL) and Netflix (NFLX) , is sucking in buyers.

Biotechnology is mainly reacting to news that the Trump administration may not be that aggressive with drug pricing regulation. Outside of that, there isn't much news influencing the market. The Congressional election in Georgia last night has helped a little in creating optimism over the Trump fiscal agenda, but the market seems quite positive about the possibilities....129 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

Read the full story and get access to the Real Money Pro trading floor.

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.

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.

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.

IDC 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.