This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

Dow Watch: Nothing Wrong Here

It's Not All Bad

( At 12:10 p.m. EDT)

This market sure has a lot going against it these days. I don't want to be too much of a drag, but let's review a few of the more recent downers.

We'll start with the big rally in the past two months. Great rebound. Still, we have to wonder how much longer that can go. As of last Friday, the Dow was up some 30% since March 9.

Then we have more stock offerings every day. Anybody not doing a secondary?

Economic data, generally speaking, haven't been much to cheer about, even if they're of the less-bad variety. The latest included word that jobless claims were up again, staying well above 600,000.

Plus, we hear that Washington is looking at greater control on bank pay, and not just for aid recipients. Wall Street doesn't care much for that. Not sure any of us should want to go too far in that direction.

If that's not enough, we have talk that Uncle Sam might lose that long-held and highly coveted triple-A rating. Say it ain't so.

Meanwhile, Paul Krugman, the Nobel Prize winner for economics, is continuing his rain-on-the parade tour. From Bloomberg: "The world as a whole looks quite a lot like Japan during its lost decade. I am very optimistic about the world in, let's say, 2030; it's the next ten years or so that have me worried."

Seriously? 2030? Fine, let's just throw in the towel on the next 10 years. Or so.

The things I've mentioned here are only a handful of the bad that remains out there. Plenty ails this economy, no doubt about it. So it was hardly a surprise when futures were indicating ahead of the open this morning that Wednesday's selloff would continue.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

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
Quant Ratings

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
Stocks Under $10

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
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
C $51.63 1.20%
CVX $106.89 2.50%
INTC $31.46 -1.70%
IBM $162.54 1.30%
XOM $85.60 2.40%


DOW 17,976.31 +263.65 1.49%
S&P 500 2,086.24 +25.22 1.22%
NASDAQ 4,947.4410 +56.2220 1.15%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs