This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The Day Ahead: Spread Your Wings Like a Seagull

I'm tellin' ya, picking stocks and tracking the market is uber fun. I learn new stuff every single day -- and today, before I jump in to thoughts on the market, I wanted to pay forward some of that education, putting context around a couple of characterizations of the environment that you may be hearing this week.

"Slow grind higher"

This means stocks won't go higher in every session, and there will be periodic setbacks. This saying is so broad and dismissive that it usually brings me a chuckle.

"We love stocks for the long term."

Be mentally and physically prepared for short-term portfolio pain. If you are able to stomach volatility, stocks will be higher five to seven years from now as intrinsic value is realized. Okee dokee.

"Eventually we will have a recovery around the world."

Huh? Note this is usually support for a long-term bullish thesis.

These are the various opinions on stocks and the overall market that I have had to digest over the weekend, much as you have had to do. Why does it feel as if the rug is being pulled from under our feet as the smart money seeks to unload? I didn't have that sense Monday, but the feeling did perk up that evening -- which prompted me to concoct that "World is Ending, Sky is Falling, Head for the Hills" investor survival guide for Tuesday.

When the market opened for business Tuesday, I thought the coast was clear. I figured there would be indiscriminate selling across sectors, renewed vigor in asset-inflation trades SPDR Gold Trust (GLD) and iShares Silver Trust (SLV) and that leading issues would return to the land of green.

But, midway through the session, the climate took a turn for the worse. I'm not sure if it was the perpetual drumbeat of doom and gloom finally sinking into the minds of the bulls with shaky hands, concerns on the election outcome or a presently unforeseen development. Nonetheless, key points in my survival guide were violated, leading me to believe it's OK to state a move to the sidelines is warranted. In other words, you might want to rein in long exposure.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Real Money
Try it NOW

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Back to Nasdaq


Chart of I:DJI
DOW 17,888.35 +168.43 0.95%
S&P 500 2,102.63 +22.22 1.07%
NASDAQ 5,156.3060 +47.64 0.93%

Our Tweets

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs