Just wanted to get a quick video out on the major indexes and cover some market posture. This is a fantastic time to Sit on Hands (SOH). We should expect market volatility of this 3 figure nature in the DJIA and several point percentage moves in most financial instruments for weeks to come.
If you are not a professional I would insist that you use this time to raise cash and sit on the sidelines. Don't misunderstand me, this is a great time to be a intra-day trader, but even those individuals can get their chops licked in this environment.
After the "Flash Crash", May 6th action, we saw, it further confirmed our thoughts to get hedged and use great caution. That day I got stopped out of most of my long positions and posted a couple of videos with ways to benefit from a down market. You can find those thoughts and videos in the archives. They were posted on May 10th and May 12th. This video link is a review of those positions and just forward looking thoughts.
Please be cautious in this environment. I anticipate we get a snap back rally but much over head supply should mute the bulls. Take this time to possibly sell longs into strength and further accumulate a CASH position.
http://www.screencast.com/t/MTlhNmRlYW
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