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Afternoon Note

Few Buyers and Lots of Sellers

By Charles Payne, CEO & Principal Analyst
1/13/2022 1:30 PM

The market tried to get something going but bulls couldn't seduce folks off the sidelines.  Meanwhile, equities drifted during Lael Brainard’s hearing.  Interestingly, when it was over stocks bounced, but again, couldn't get any traction.

That's the story of the session - few buyers rather than lots of sellers.  Still, the bias is to the downside. 

In this environment, investors feel more comfortable with blue chip names.  I'm also seeing good action in multinationals, which gets back to my morning commentary about where funds might go as the dollar selloff. 

Also, airlines quietly picking up steam as Omicron worries fade with low death rates and rapid case declines. 

Red attracts bulls...buy on the dips

Patrick J Pedley on 1/13/2022 3:04:14 PM

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