Tough to Put Cash to Work

 | Dec 14, 2012 | 2:19 PM EST  | Comments
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The market continues to drift in dull fashion with breadth almost exactly even and the indices flat. Apple (AAPL) continues to be the biggest negative on the screen, but the school shooting in Connecticut is affecting the mood as well.

Here's the dilemma for traders: Even if you are optimistic and would like to add long exposure in case the fiscal cliff is resolved, the action is so dreary that it is tough to put money to work. Of course, I'm speaking from the standpoint of someone who tends to trade momentum and charts. Value buyers may find this action very appealing, but most active traders that I know are struggling.

We'll see if the buyers step up late in hopes of some positive fiscal-cliff news over the weekend. The best thing we have going for us is that President Obama is eager to go on vacation and politicians want to return home for the holidays. Nothing makes them more productive than self-interest.

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