This Day On The Street
Continue to site
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

For S&P 500, Better Action Today Amid Still-Slow Summer Trading

"The best traders have no ego. You have to swallow your pride and get out of the losses." -- Tom Baldwin

NEW YORK (TheStreet) -- Today we saw much better action than we have seen for a long time -- with stocks behaving well, including some breakouts.

We've seen so many breakout failures and poor action lately. But Tuesday we saw that change, at least for a while. It doesn't mean we are out of the woods, but it does mean I am not 100% cash anymore. I'm still using relatively small positions, just dipping my toes in the water. But so far the water feels good and safer.

Things did slow in the afternoon a bit. But all in all it was a much better day than we've been seeing of late.

Domino's Pizza: 11 Amazingly Tasty Facts You Should Know

Nintendo Should Scrap the Wii U

Apple's Ho-Hum Quarter Is a Set-Up to Its Biggest Product Launch Ever

We Could Be Minutes, Hours, Days, Weeks Away From a Huge Pandora Announcement

Let's kick it off with the index charts.

The S&P 500 SPDR ETF (SPY) looked great today, although it did reverse. Some stocks held up well.

Expect more chop and sideways action with the exception of select stocks -- it's still a stockpicker's market.

Chipotle Mexican Grill (CMG), for example, did great on earnings while Netflix (NFLX) didn't. It remains the earnings season of non-action.

Have a great summer night.

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
Only $9.95
14-Days Free
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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
SPY $204.97 -0.02%
AAPL $93.21 -0.44%
FB $117.80 -0.22%
GOOG $701.26 0.80%
TSLA $211.34 -5.00%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs