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Chartology - Navigating The Charts

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Will the bulls or bears likely dominate the Street in the year ahead? Find out from one of the most esteemed market technicians in the world.

Barry Ritholtz, is Director of Research at Fusion IQ Reseach, (an asset management firm with $100 million under management) and he joins the panel for this conversation. Following is a synopsis.

Despite a tough tape and a preponderance of negative news (high energy costs, subprime mess, slow earnings growth), Ritholtz remains cautiously bullish due to the market technicals.

He says, because the S&P has yet to break its 5-year trend line (despite testing it several times) investors should stay long.

He adds there are a couple names that have shown great relative strength and warrant a special look. They are State Street: (STT) which is up 16% YTD versus a 16% decline for the XLF. Also he likes Stanley Inc: (SXE) a global infrastructure play. The company is up 113% YTD.

Guy Adami also likes State Street (STT).

Karen Finerman tells the panel she’s skeptical of technical analysis, overall. She prefers to look at the valuation of a company before making a decision to buy or sell the stock.

For an in-depth explanation of Ritholz’ technical analysis please watch the video.

Symbol
Price
 
Change
%Change
STT
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Trader disclosure: On Dec. 3, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (ATVI), (DIS), (COH); Najarian Owns (ETFC); Najarian Owns (COP) Options,(HANS) Options, (TSL) Options; Finerman's Firm Owns (SKS), (TSO), (WMT), (CROX), (KSS); Finerman's Firm Owns (MSFT) Options; Finerman's Firm And Finerman Own (GS); Finerman's Firm Owns (AEO); Finerman's Firm Is Short (BIG), (LEN), (MBI), (SPY), (IYR), (IWM), (IJR); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Finerman's Firm Owns Russell 2000 Puts; Finerman's Firim Is Short (MDY) And Owns (MDY) Puts