An impressive rally in crude oil, left the stock market vulnerable to selling pressure. However, the weakness was muted. Nasdaq futures remained relatively flat throughout the session while Dow futures slid. Tech stocks were supported by news from Research in Motion regarding its ongoing paten dispute with NTP.

Crude oil futures jumped by more that $2 a barrel after a massive attack on a massive oil facility in Saudi Arabia was thwarted. The energy market was already on edge over the supply disruptions in Nigeria and concerns over Iran's nuclear ability.

On a lighter note, H&R Block Shares fell after the nation's larges tax preparer said that it was having issues with its own taxes. They will be restating earnings going back to 2004.

February is the weak link in the "Best Six Months" according to the Stock Traders Almanac. Remember, the S&P has been up 12 of the last 14 trading sessions that immediately precede President's day.

Dow Recommendations
Swing Trade - Flat

Position traders - We are short a March 104 put and a 110 call, we collected about $800, a little nervous on the call side our reverse break even is at 11080!

Option traders - Long the March 108 call and short 110 calls. We paid about $250 for the spread. Our risk is theoretically unlimited above 11,750 and limited to $250 on the downside. Call me if you have questions. We bought the March 110 put and sold 2 108 puts, we were filled at even money...FREE TRADE! If we are wrong, and the market goes up from here, we are only out commissions on the trade.