Market players are moving slowly after the long weekend. As many anticipated, Greece is not a further positive catalyst. The news there is just too well anticipated and no one believes that it is a real solution anyway.
Breadth is pretty good, especially on the NYSE. Gold and silver are leading and the euro continues to act well, which is probably the main support under this market. As long as the dollar stays weak the bulls are going to stick around.
I'm focusing on small oils, which have been the best momentum group lately. Vaalco Energy (EGY) is my stock of the week. Halcon Energy (HK) is of interest after a name change and reverse split. Also, Triangle Petroleum (TPLM) has a solid recommendation and is seeing interest.
I've had gold and silver miners on watch for a while and they may finally be ready for better action. A couple I like are Richmont Mines (RIC) and Golden Minerals (AUMN).
I'm also heading with the Direxion Small Cap Bear 3x (TZA) as we test the lows of the day. The dip-buyers are looking sluggish and I'm ready to press an index short if we don't see a better bounce soon.
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In this kind of market, I'm opting for a slightly more conservative play here.
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