A Bit Too Laid Back

Stocks are mixed this morning, with the S&P slightly green, the Nasdaq flattish, and the small caps in the Russell soundly in the red. Names like CMG NFLX continue to lag, as are large cap biotechs, while natural gas and some related named outperform. 

Tech issues are also holding up well, and represent some of the best potential long ideas. However, the tempo of the action this morning is a bit too slow for my taste, and I am inclined to stay light in lieu of forcing the issue as stocks wiggle a bit with Chair Yellen's testimony. 

Regarding precious metals and miners, not much has changed on that front--We still like the action for 2016 so far. But a consolidation in the early portion of summer still looks to be playing out. Similar comments apply to crude oil. 

If natty continues to outperform, a stock like SWN over $14 is worth keeping on the radar for a squeeze higher.