Snoregasm

I've been largely uninvolved in the market recently, as the market remains mixed, the larger trend for the moment remains essentially unresolved and my desire to churn both directions at the same time is not as strong as my passion for lawn bowling.

Bulls and bears can argue until the cows come home as the market illustrates daily: pockets of strength; pockets of weakness; clear resistance; clear resilience; few new 52-week lows and fewer still 52-week highs, etc. this; etc. that.

While Monday's ability to firm in the face of further negatives (AIG, world markets lower, etc.), Friday was equally discouraging for the lack of any follow-through on the heels of Thursday's high-volume reversal on the negative CSCO comments Wednesday night.

One positive development, many of the larger institutional names are catching bids lately; something we'll need to see more of if there is going to be any sizable advance. But unlike Friday, where money rotated into the institutional names (APPL, GOOG, RIMM, etc.) and the rest of the market sold off to pay for the spree, we need to see the market tide lift all boats.

I will get much more active long if we can manage an upside follow-through session and I will get out of Dodge if we continue to stall much longer. I'm expecting the former and tomorrow is the next-best chance, but I'm not convinced of anything at the moment.

I'm not trying too much in the meantime.