Momentum Is Lacking

For more than a week, the action has been generally flat but with a positive bias. We are seeing it again this morning as the indices produce minor gains, and breadth is running 2700 advancers to 2250 gainers. There is some positive action and a few big movers but no great excitement. The attitude seems to be "I want in in case we see a fiscal cliff deal, but I really don't trust it much."

I continue to be very frustrated with my inability to put money to work. I have a few things working but I'm trading them small, and there is enough volatility in other positions to chip away at gains. What makes it challenging is strong momentum is lacking, which indicates that the hot money is aggressively pursuing positions....126 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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