TheStreet.com RealMoney

It's Going to Stay Slow

By Rev Shark

 About this article:
 For the second day in a row the indices did very little but the action under the surface was mildly positive. Breadth was pretty good and there were some bounces in oil, commodities and big-cap momentum names like Google, Goldman Sachs and Amazon. After the selloff on Friday through Tuesday, we were oversold and due for some sort of relief bounce but all we've really done is run in place. The churning is using up the buying power of the dip-buyers and sets the stage for things to roll back over again. Buyers should be anxious to snap up some of these bargains after these sharp pullbacks, but they are hesitant and that increases the chances that they will not stick with a bounce for long. I'd really like to be more positive, but it is really tough trying to find new long trades here....

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