Dangerous to Short Here
Monday witnessed another meeting between President Obama and House Speaker John Boehner, and Apple (AAPL) was able to shrug off some of its early negativity -- which has all given the market a positive tone. However, we are faced with the same issue that the market has suffered from for two weeks now: a lack of strong momentum. While we're seeing positive action, there isn't much aggressiveness, and the market tends to drift and overreact to minor news and rumors.
I have to admit, I'm a bit annoyed that I don't have more going on today. I'm definitely not bearish -- and, as I've been saying for the past week, this is not a market to short. The potential for a spike higher on a fiscal-cliff deal is just too great for me to take a bearish stance. If you are inclined to play the short side, you should be seeking strength on the news -- which may not last for long. The market won't go straight down if the fiscal-cliff uncertainty comes to an end....80 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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.