Google (GOOG) earnings are out and appear to be quite solid, and it is attracting a bit of buying, but the buyers aren't going nuts. Expectations were probably high enough to keep the stock fairly contained.
It was a very mixed day once again, with big-caps leading the charge and many of the recent winners struggling. Gold, miners, solar energy, oil, small-caps and momentum stocks all suffered some difficulty, while big-caps like Amgen (AMGN) and Intel (INTC) held the major indices up.
I was definitely troubled by the action I saw in secondary stocks, and it makes me wonder if big-caps alone are going to continue to carry us. Technically, the bulls are still in control, but they need some broader buying, or things are likely to get tougher fairly soon.
I hope you had a good day. I'll see you tomorrow.
P.S. Will you be there when Cramer makes his next move?
Strong brands and companies with vast market exposure can help bolster your portfolio. Jim was able to lock in a 64% gain by buying Ingersoll-Rand at $13 and selling at $22.50. Action Alerts PLUS members were the first to see these moves. Were you among them? Get Free Access Today!
James "Rev Shark" De Porre is the founder and CEO of Shark Asset Management, an SEC-registered investment advisory firm. He also operates sharkinvesting.com, an interactive online community that serves and educates active investors. De Porre holds business and law degrees from the University of Michigan, is a member of the Michigan Bar Association and a former tax attorney and CPA. He lives in Anna Maria Island, Fla., with his wife and two children.Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Rev Shark appreciates your feedback; click here to send him an email.
RSS FEEDS
PODCASTS
