Not a Whole Lotta Love
I'm disappointed that we aren't seeing a stronger reaction to European news this morning. It doesn't really matter if we are up or down as long as we see stronger emotions and more aggressive trading. We are ticking up and breadth is good so far, but the mood is sedate and there isn't any urgency to the buying. I was expecting some "sell the news" action, and that may be why it's slow, but the buyers need to show more conviction before I get aggressive.
We have oil and banks leading, and chips are weak on the guidance cuts from Texas Instruments (TXN) and Altera (ALTR). Big-cap momentum names are holding, but not gaining much traction. Breadth is good, but buying is tentative. I would not be surprised to see a quick dip intraday....141 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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