State Of The Market

Even with today's negative action, my indicator was positive.

We're at the levels that preceded the last down leg. Will it be different this time?

Short treasuries and short gold is breaking down, so people are still shunning risk.

The yield on the 30 year looks ready to make new lows.

I've been too busy to trade the last few sessions as I focus on other income streams. The action still looks choppy, but buying the dip is not crazy. Risk management remains critical in this volatile environment, but if you've made it this far, you know that already.

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Apple continues to enjoy a short term uptrend, but I think there are better places to feed.

General Motors still looks terrible, but it too is enjoying a short term uptrend.

Google might break the downtrend, but it's at major resistance.

POT is dangerous, and should be avoided (unless you like groovy tunes and the munchies).

I've said it before an I'll say it again. I'm not catching this falling knife, but I bet she'll see 300 again.

SKF is my favorite long term play, but I'm not gonna commit ANY money to it until I see a EVIDENCE of a trend change. AAPL, GM, GOOG and POT seem like better shorts in the coming days, but this is a helluva bear rally, so there is no reason to rush.