Debbie Downers: The Street's day traders languish in slow market

They say never short a dull market. Joshua Brown never obsesses over one either. His team's not forcing any trades or making moves just for the sake of making moves. They're spending time on administrative stuff, client work and lots of research.

By , Guest blogger

  • close
    Trader Jason Harper works on the floor of the New York Stock Exchange in this June 2012 file photo. Wall Street's sluggishness has many day traders languishing in a painfully slow market environment.
    View Caption

I talk to guys on serious trading desks around the city, the consensus is they've never seen things this dead in their entire careers.  "It's like August started in June," my friend Joe tells me.  "Nothing is crossing, no one is doing anything at this point."

I think seasonality only explains part of it, there's also this Eurofail Summit happening on Friday and the fact that we're in this between-earnings-seasons lull.  Other than biotechs and nat gas strength, there is also very little working thematically.

We have a few core holdings flirting with new all-time highs (WMT, XBI, BRK-B, V) and a few that just cannot get any traction at all (Our Emerging Markets play, DEM, is just awful here but thankfully it has a yield while it languishes).  Nothing new is popping up on our screens that we can get very excited about.

Recommended: You think you know the stock market? Take our quiz.

They say never short a dull market.  I say never obsess over one either - we're not forcing any trades here or making moves just for the sake of making moves.  We're spending our time on administrative stuff, client work and lots of research.

I don't mind.

The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here.To add or view a comment on a guest blog, please go to the blogger's own site by clicking on www.thereformedbroker.com.

Share this story:
 
 
Make a Difference
Inspired? Here are some ways to make a difference on this issue.
Follow Stories Like This
Get the Monitor stories you care about delivered to your inbox.
 

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...