As we discussed at the end of last week, this is now a market of those "with info" and "those without info". The market is going to do strange things and we do not want to be a part of it. That is why we stay Neutral and in Cash until there is some clarity or new formations. It looks like today is the first time that The AFG's are actually silent. Uncle Ben is a formidable enemy to the bear camp. Is there a double bottom? Has Gold topped? Is it over? Is there a recession?
We at WSR don't really care from a trading stand point. One of our mottos is: "You never really miss anything- if you don't know-don't play"
I have no idea which way it goes from here. We still would not be buyers until the dow 10,000 area and we would not be short going into Jackson Hole. A good week to do other things besides watch the market- Dudeman!
