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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Investors Contemplate Next Move: Dave's Daily

 

Upon further reflection most know Wednesday's central bank action was just a handout to buy time. Both Barclay's and Goldman Sachs didn't think highly of the bullish reaction to yesterday's news. Barclay's Paul Robinson said the market updraft was "exaggerated" and "not easy to make the case that the magnitude of the news quite justifies the magnitude of the global market reaction." He continued: "Market participants seem as fearful of missing a market updraft as they are of getting caught in a downdraft." Goldman sounded a more ominous tone by stating: "Although there is the obvious counter: why act now - is there something lurking around the corner? Those are worries for tomorrow though."

By Thursday, investors are sober knowing that the Fed, along with a few other players, gave interest free handouts and the solution to the eurozone's problems have been postponed for awhile. Much of the optimism for a solution comes from those knowing that a common political union is the answer while at the same time it seems unlikely to occur.

Jobless Claims were disappointing as they surged once again beyond 400K (402K vs 393K expected) but it's interesting how consistently previous data is revised higher as shown below:

 U.S. ISM Mfg Data was more positive (52.7 vs 51.8 expected) which shows more economic growth. However, while U.S. data is improving the rest of the world is contracting as the chart below demonstrates.

 

 

And, other recent global economic surveys demonstrate global weakness as shown in the November PMI Survey below:

 

 

Stocks vacillated between gains and losses most of Thursday as most financials continued as a drag while other sectors were better like tech. Bonds were flat, the dollar was mostly unchanged and commodities were mixed.

 

Volume was quite light on Thursday as perhaps traders decided to reflect more on the news and try to digest previous gains. Breadth per the WSJ was mixed to negative. 

 

 

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

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management 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 extraordinary 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

Jim Cramer's protege, 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
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!
DOW 16,919.59 +80.85 0.48%
S&P 500 1,981.60 +9.86 0.50%
NASDAQ 4,527.5140 +19.2020 0.43%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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