Short-Side Traders Waiting for Good News

The bears gave it a decent try, and breadth is still fairly poor at 1,900 gainers to 3,400 decliners, but I suspect the shorts are going to wait for some more headlines to hit from Europe before they give it another go. The bulls are pushing again, and the risk of an upward spike on all or some of the upcoming announcements from the European Central Bank and the summit meeting are quite high. On the other hand, you can bet the bears are thinking "sell the news."

I'm inclined to try the short side myself, but only on positive news headlines. I have no doubts we will be seeing some and we have already used up a tremendous amount of gas on the last dozen or so. There is no way I want to try to build shorts before major European news events....116 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.