The indices have battled into the green but the action is slow and random. It is obvious that trust levels are low, and that is preventing aggressive buying, but there are pockets of action as the hot money is bored and hungry.
Gold, silver and speculative biotechnology are leading while coal, oil and steel lag. Breadth is positive on the NYSE and flat on the Nasdaq. Most of the big-cap momentum names are struggling, but Apple (AAPL) is bucking the trend and showing relative strength for the third straight day. AAPL looks like it is trying to put in a bottom and I'm inclined to slowly average into it at this point.
I'm feeling a bit frustrated as I don't have much going on. Web.com (WWWW), my stock of the week, is inching up and looks better as it moves through $15.50. Small oil Arabian American Development Co. (ARSD) is also on my radar; it has good early volume and is testing overhead resistance at about $10.50. I've flipped out of Facebook (FB) again, but that has been a good vehicle for day trading and I'll continue to watch for entries.