The good news is that the market finished the day off of this morning's lows. The bad news is that it didn't close with any vigor and took a very anemic bounce in view of Wednesday's selloff. The indices were oversold enough for some sort of reflex bounce today, but the bulls just couldn't manage it. There isn't much confidence, and there's no rush to dive in.
I suspect there was some nervousness about loading up ahead of the jobs report Friday morning. If we get a bad number and gap down, I'll be looking for the dip buyers to give it a go, but I wouldn't be very trusting of a gap up on a mediocre number.
We have quite a few stocks that are being washed out, and that can be favorable for some selective stock picking, but we are hypersensitive to news headlines about Greece and domestic economic reports, and that prevents aggressiveness.
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