There’s little action in our stocks toda…

There’s little action in our stocks today and that’s probably a rather bullish way for these stocks to trade, at least for the very near-term.  After putting on 5-10% moves from their recent lows, most of our stocks are now consolidating at these levels.  Technicians/technical traders will call that building a base.  I call it catching their breath.

Other than a few networking equipment names like Adtran being hit today (again, after their recent big pops, a little pullback isn’t necessarily a bad or bearish thing at all), there’s not a lot of oomph going on in any of these stock markets today.  Oh, and LPS continues its downward trend and a technical trader would tell you it’s chart is starting to look “broke”.  As in, “man, that is one broke chart, dude.”  Or put another way, “U-G-L-Y; LPS ain’t got no alibi”.