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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

The Shifting Sands Are Eroding Beneath Our Feet: StockTwits

NEW YORK (TheStreet) -- You know that feeling when you stand barefooted on the beach at the edge of the water? Now imagine when the water rolls in around your toes and you begin to notice the sand foundation under your feet beginning to give way. You're still loving the view so you simply readjust your stance, giving you time to hang around a little bit longer.

This is what the stock market feels like to investors who perhaps are long index ETFs or stodgy dividend payers. Their feet are still shuffling in place near all-time highs, but the shifting sands underneath are starting to make them think it might be time to start looking for higher ground.

We saw a nice bounce off lows that were set Monday afternoon into Tuesday morning. But today's action surely left long investors starting to look around for the nearest hill to climb if that gentle bearish tide turns out to be the first wave in a destructive tsunami of sell orders.

Today, the Nasdaq 100  (QQQ - Get Report) resumed its lead to the downside, taking out some key levels and signaling a possible change of slope in some much-watched moving averages:

$QQQ smashed down on underside test of weekly -- note how 20sma is flattening -- HCPG (@HCPG) Apr. 10 at 12:27 PM

(This chart was shared at midday, and it got significantly worse!)

The iShares Biotech ETF  (IBB) was the focus for much of the speculative activity in the first quarter of this year, but has witnessed a significant slide in the past several weeks. Chris Kimble points out that a key level here may trigger further pain if not held:

H&S top, now kissing he underside of neckline? Be careful if correct read! $XBI $IBB $BIS $QQQ -- Chris Kimble (@KimbleCharting) Apr. 10 at 08:47 AM

Even if it's merely a data point that alone means nothing, it could be significant. Surely casual investors will see headlines tonight and tomorrow pointing out the indices now being officially down for the year (not something they are used to):

Major indices now negative YTD. $SPY $QQQ $DIA -- Y CHARTS (@ycharts) Apr. 10 at 12:53 PM

The question becomes this: is the panic over once it starts hitting the front pages? Or will it grease the slide?

Either way, buckle up.

At the time of publication, the author held no positions in any of the stocks mentioned.

This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.

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!
IBB $347.67 0.00%
QQQ $108.64 0.00%
AAPL $126.41 0.00%
FB $81.21 0.00%
GOOG $575.33 0.00%


DOW 18,135.72 +38.82 0.21%
S&P 500 2,101.04 +2.51 0.12%
NASDAQ 4,982.8090 +15.6680 0.32%

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