Tuesday, March 13, 2007
Time For Cash
If you haven't done it yet, it's time to move to cash. The market isn't looking too healthy on the way up here, especially after the Tuesday romp we took two weeks ago (volume waning hard). If you need to be long, I would hold onto ONLY the stocks still moving higher. Any hard reversal in the market and I wouldn't stick around. If you play the short side, good time to look for them. If not, review your trading from August through February and slowly start preparing for the next leg up. At this point, we're at least 5 - 6 weeks away from even considering getting long, and preferably longer to shake this market out. I still think we can get to 3,000 on the NASDAQ before we really go down, but for now, I'm off that train.