Some Pre-Holiday Drift

 | Feb 17, 2012 | 11:13 AM EST
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We have very mixed action as many market players are on hold in front of the long weekend. The possibility of some news about Greece on Monday while U.S. markets are closed for Presidents Day is making it tricky to do much. Given the history, the likelihood is that decisions will be delayed once again, but who knows?

We have some strength in oil, solar energy and retail while precious metals lag again, but there is very little going on as far as themes. I'm playing a few small oils such as Samson Oil & Gas (SSN) and Magnum Hunter Resources (MHR), but there isn't enough energy there to make me aggressive.

I have some things on my radar such as Group (WWWW), which reported a good quarter, and EPAM Systems (EPAM), a recent IPO, which I mentioned the other day, but I don't see any hurry to add at this time.

It looks like it is just going to be one of those days when we drift around as market players leave early for the long weekend. In this sort of environment, finding new trades is a tough task.


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