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

Stocks Close Green Month in the Red: Dave's Daily

Stocks in this article: XLV UPS IYT ITW XLI ADM XLP AMZN FDN



Stocks are closing the month with another reversal day well off the lows. Like Monday, afternoon dip buyers aren't taking any selling lying down. Overall the month was one of the best Januarys on record returning 3% to 8%.

Market moving news on Tuesday featured news from the eurozone, economic data in the U.S. and earnings.

From the eurozone, we learned that the EU has approved on a fiscal and budget discipline mechanism going forward. All but two countries (Czechoslovakia and Britain) approved the new treaty. Also the ESM (European Stability Mechanism) also known as "money printing" and "bailouts" will be launched on July 1 st one year earlier. Understandably one might take a "trust but verify" approach since many previous agreements have come to nothing. Nevertheless, this so-called treaty took European stocks higher. This is featured in the "Overseas Sectors & ETFs" section of this commentary with EFA, EZU, EWU, EWG and others.

Earnings news from U.S. companies was just okay but guidance was weaker overall including Exxon Mobil (XOM), Pfizer (PFE), Untied Parcel (UPS), Illinois Tool Works (ITW) and Archer Daniels Midland (ADM). After the close, Amazon (AMZN), and liked to ETF (FDN) reported a disappointing report which sent shares sharply lower. All these companies are linked to charts and ETFs within "U.S. Sector, Stocks & Bond ETFs" section below which include matching ETFs (XLE, XLV, IYT and XLY).

Economic data missed estimates including: Chicago PMI; 60 vs 63; Consumer Confidence 61 vs 68 expected; and, Case Shiller Home Prices down 1.3% taking prices back to 2003 levels.

Frankly there are only a few groups trading these markets: HFTs, Hedge Funds, overseas investors and what's left of reinvestment from captive assets domestically. That's about it. Markets remain overbought frankly. And, the old saying, "as goes January, so goes the year" will be much promoted.

Volume remains light even by the now descending three month average for bellwether SPY (190M shares) and breadth per the WSJ was once again mixed.

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

SPY - The SPDR® S&P 500® ETF is a fund that, before expenses, generally corresponds to the price and yield performance of the S&P 500 Index. Our approach is designed to provide portfolios with low portfolio turnover, accurate tracking, and lower costs.
See more details

IWM - The iShares Russell 2000 Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the small capitalization sector of the U.S. equity market as represented by the Russell 2000 Index. The index represents the approximately 2,000 smallest companies in the Russell 3000 Index.
See more details

QQQ - is an exchange-traded fund based on the Nasdaq-100 Index ®. The Fund will, under most circumstances, consists of all of stocks in the Index. The Index includes 100 of the largest domestic and international nonfinancial companies listed on the Nasdaq Stock Market based on market capitalization. The portfolio is rebalanced quarterly and reconstituted annually. See more details

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!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

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