Pulling the Lid Off Tupperware

The market is starting to get quite choppy. After a big loss Tuesday, the market tried to stage a rally Wednesday but equities gave up their gains and traded lower at the close. The culprit once again was primarily earnings reports and guidance that continue to disappoint investors. The amount of caution from CEOs on conference calls is concerning, as it points to a worldwide economy that continues to weaken and hurt end demand. Anything dependent on industrial production in China and/or Europe has taken significant hits. Witness the dismal quarter of Cliffs Natural Resources (CLF) released Wednesday.

I believe the markets will remain volatile until there's clarity on the results of the election, some hint of a resolution of the fiscal cliff and third quarter earnings season is over. I am being defensive here. New money going into the market on pullbacks is concentrated in equities that have already reported solid results for the quarter, have reasonable valuations, and provide consistent earnings streams and decent dividend yield. This means no stocks will move significantly either way on the latest reading on manufacturing strength in China or Europe....245 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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