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2010-02-08 01:23

THEY DON'T GET YOU

The market is grappling for direction but has climbed off the canvass in part to very solid earnings from the likes of Hasbro (HAS) and Consumer Value Stores (CVS), and an upgrade of Home Depot (HD) over at Morgan Stanley. There seems to be a natural inclination at this point for the market to move lower as it seeks out buyers that have become more reluctant to buy the dips. On that note, however, buyers have begun to sniff around tech and commodities over the last week or so. There was big money made in those areas last year and recent pullbacks must conjure up great memories. I like the action in the market; it has to get cheap and has to shake out non-believers to establish the base for a move higher. On that note, Chinese stocks look and act great. I think that bubble story is overdone; although I will say there is a real estate situation there that has to be addressed, I don't think it's the linchpin to the country's overall economic success. Let's see if there is a late move that might spark some panic buying, which we got a glimpse of late Friday afternoon. Of course it's tough getting overall traction without the financials, but speculation about the next attack on the industry seems to have cast yet another dark shadow.

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Disclaimer: Securities Operations Forum is providing this research to assist investors in determining when to buy and when to sell. All investment decisions are yours and as a result you could make or lose money. Securities Operations Forum, its employees and/or its affiliates and family members may from time to time take positions in the open market or otherwise with respect to the securities discussed, but not have stock ownership equal to or greater than 1% of the outstanding stock of the covered company nor does any employee of Securities Operations Forum sit on the Board of Directors of any covered company. The statements made herein include information obtained from sources believed to be reliable, but no independent verification has been made and we do not guarantee its accuracy or completeness. The statements made herein contain general information and do not constitute an offer to buy or sell any security.