This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Markets Mark Time: Dave's Daily



News of an S&P rating downgrade for Greece to CCC was hardly a shock but it took a toll on stock market bulls. They couldn't manage to hold onto gains despite some positive M&A activity. More telling perhaps was the broad decline in just about all commodities where the mood and prices seem to indicate a lack of demand for just about everything. This may be the more accurate takeaway from Monday's action since economic softness is starting to have an effect.

Energy, precious and base metals, grains and softs were down across the board. Grains may rally, as with carryover stocks very low, any disruption to supply could cause prices to rally. The flooding of the Missouri River now underway could be such an event. The dollar traded in a wide range but ended the session slightly lower despite the Greek situation while bonds were mostly flat.

Former Obama economic advisor Larry Summers posted an op-ed piece suggesting what the country needs is another round of economic stimulus from the government. This will go nowhere other than to let people know he still exists.

The Fed is still engaged in POMO activities and Primary Dealers (Da Boyz) can expect 12 more trading days ($5 billion per day) of bond buying (12 days of Christmas?) from the Fed until QE2 ends. 

And, yes by most reliable measures stocks remain short-term oversold as breadth continues to be negative. Volume on Monday was a little heavier than average. 

You can follow our pithy comments on twitter and join the conversation with me on facebook.

Continue to U.S. Sector, Stocks & Bond ETFs

1 of 5

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!
SYM TRADE IT LAST %CHG
AAPL $129.32 0.67%
BAC $15.97 1.00%
XLB $51.56 0.15%
XLF $24.52 0.70%
XRT $99.26 0.57%

Markets

DOW 18,242.84 +110.14 0.61%
S&P 500 2,113.73 +9.23 0.44%
NASDAQ 4,999.6870 +36.16 0.73%

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