What a Week: Loose Lips

The markets were listless this week, as traders were eager to grab onto anything that smacked of a theme. Next week, it should be easier to find a theme as the Federal Reserve Chairman Ben Bernanke gives his semiannual testimony to Congress Wednesday and Thursday.

"Anything that was anything got magnified" this week, says James Paulsen, chief investment strategist at Wells Capital Management. Paulsen was referring to the subprime mortgage market's issues highlighted by HSBC Holdings(HBC Quote) on Thursday, and a few hawkish Fed speakers Friday.

Paulsen also noted a slight shift in sentiment this week, as traders backed away from the frothy enthusiasm that the economy is rolling along like a freight train without any obstacles. ...