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No News is…No News

You've got to watch the news on individual stocks or go for more predictable dividend payers to play this market


The market essentially hasn’t done much of anything this week.

So far, the NASDAQ has managed to climb higher by 3 points or 0.09%, while the S&P 500 has been able to tack on 2 points of gains or 0.16%, while, lastly, the Dow Jones Industrial Average has declined only by 0.07% in its 10 point drop. So, at least going off Wednesday’s closing prices — and continued lack of big moves early this afternoon — one can make a solid case that this week has been all about nothing.

However,  while the market has gone nowhere this week, it’s not limited to just an index or two. It’s actually a whole lotta nothing with the exception of individual names moving on specific news.

Cliffs Natural Resources (NYSE:CLF), for example, reported earnings and slammed down more than 20%. In the past, this was a poster child stock for global growth and a recovering economy.

Additionally, stocks like VMware (NYSE:VMW) in the cloud space continue to tank to new 52-week lows just like we have seen in other momentum names like Apple (NASDAQ:AAPL) recently.

So, while investor perception might be that this market is fine, it really all boils down to what you are in. Michael Kors Holdings (NYSE:KORS) had great earnings and a fairly good positive reaction in the higher end consumer retail sector. Conversely, if you look at Coach (NYSE:COH), you would think the sun was going to explode.

A few other names that have been recently slammed include Rackspace (NYSE:RAX), (NASDAQ:STMP), CenturyLink (NYSE:CTL), Itron (NASDAQ:ITRI), TripAdvisor (NASDAQ:TRIP) and Weight Watchers (NYSE:WTW), which were all falling in after-hours trade, some 10%-20% each.

So what’s a trader to do in this situation? I have seen a lot of money shifting to high yield trades, and I would recommend following, as I explain in this video.

InvestorPlace advisor John Lansing tracks the charts all day and offers expert technical analysis in his day trading, options and trading services: Power Trading at the Open, Parabolic Options and Trending123.  For more information on which service is for you click here.

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