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

Leading Stocks Show a Marked and Positive Change

“When you want to test the depths of a stream, don't use both feet.” – Chinese proverb

NEW YORK (TheStreet) -- A great quote for this market that is still suspect.

Small positions and tight stops are the equivalent of testing the market with one foot, and that remains my strategy as we continue to chop around a bit until the fall.

That said, I’m seeing many leading stocks do just that -- lead. While markets are still nothing to write home about, I’m seeing leading stocks act much better and many are now breaking out or are very close to doing so.

Must Read: Three Chinese Internet Stocks to Own for Long-Term Growth

I’m still using relatively small positions to really gauge the market. So far so good.

One of the trades was a morning buy in InterMune (ITMN), which saw a takeover bid later in the day.  Sometimes you just get lucky and there is nothing wrong with that. It was pure luck, although the chart looked great and that is the real reason I bought it.

Courtesy of

I am long SPDR S&P 500 ETF Trust (SPY) as well, using calls. We could easily push to 198 quickly so let’s see how that goes.

Enjoy this wonderful summer evening.

Warren Bevan

At the time of publication, the author was long SPY and ITMN, although positions may change at any time.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

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
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs