Choppy Action
Big banks, particularly Bank of America (BAC) and Citigroup (C), are leading the market higher, but it is choppy out there. Apple (AAPL) is the primary drag as it struggles with a couple of downgrades and target cuts, but it is the randomness of the small-caps that is making the trading very tricky.
As has been the case lately, the action has a positive bias, and there is some optimism that the fiscal-cliff negotiations are advancing, but we don't have the sort of big-volume strength that is indicative of institutional buying. The strength is driven by fear of being caught underinvested when a positive headline hits....128 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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