Stocks Near ‘Hot-Stove Territory’: Brown
Online Producer
As the S&P 500 and the Dow Jones Industrial Average continue to post gains, a few headwinds could turn things around, Josh Brown of Fusion Analytics said Tuesday on CNBC.
"We're kinda gitting into hot-stove territory here," he said on "Fast Money."
Brown said that expectations were now catching up to the price action, which leaves little wiggle room for any disappointing news.
"While I'm constructive, I wouldn't be putting on any new positions," he added.
Midday, the Dow was 65 points from 14,000, or 0.43 percent away, and less than 1.6 percent from its all-time closing high of 14,164.53.
But the good news might not last.
Joe Terranova of Virtus Investment Partners reiterated the effect of what he expected to be disappointing news from the Labor Department.
"I still go back to what goes back to what happens Friday with the jobs report," he said.
Trader disclosure: On Jan. 29, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Mike Murphy is long GS; Mike Murphy is long TGT; Mike Murphy is long FB; Mike Murphy is long GOOG; Mike Murphy is long TWI; Mike Murphy is long TOL; Joe Terranova is long VRTS; Joe Terranova is long AAPL; Joe Terranova is long GS; Joe Terranova is long DELL; Joe Terranova is long SWN; Joe Terranova is long XOM; Joe Terranova is long GOOG 750 CALLS; Joe Terranova is long NFLX 160 CALLS; Joe Terranova is long AAPL 455 CALLS; Stephen Weiss is long RIMM; Stephen Weiss is long QCOM; Stephen Weiss is long TBF; Stephen Weiss is long M; Stephen Weiss is long BTU; Stephen Weiss is long CNX; Stephen Weiss is long WLT; Stephen Weiss is long AAPL CALLS; Josh Brown is long AAPL; Josh Brown is long GDX; Josh Brown is long GLD; Josh Brown is long XLU; Josh Brown is long TLT; Josh Brown is long XLF; Josh Brown is long WMT; Josh Brown is long TGT; Josh Brown is long QCOM; Josh Brown is long PFE.
