The market has done a nice job of walking back to flat after the weak open, but this action is just plain boring. The small-cap indices are doing very well, which is a good sign, but there isn't much speculative action. The big excitement is a potential Dell (DELL) buyout and Facebook's (FB) announcement of a search function. Whoopee.
The good news is that earnings season kicks off tomorrow with reports from Goldman Sachs (GS), JPMorgan Chase (JPM) and a couple of others. Then we will have significant reports for the next few weeks. I'm not sure if earnings will produce a positive or negative bias, but at least we should see some movement and tradable action in individual stocks.
I'm doing almost nothing today. I sold down a number of things this morning in untimely fashion, but the lack of energy is preventing me from doing anything of consequence.
The market continues to act fine and when it's this slow, the phrase "Don't short a dull market" comes to mind. I wouldn't be too complacent if I was bearish.
