Some of my readers will recognize my previous work from the Reversion to the Unified Mean (RUM) Wave blog. I wrote it in relative anonymity for a couple years. That work can now be found here.
So I had a hunch we might get a sell off today, but being close only counts with horseshoes and hand-grenades. (My foreign readers may not get this one.. its a common saying here in south Texas.) Anyway, the RumWave says there is still more room to decline. So, don't go buying up long positions here. Keep the powder dry and I'll let you know when it is time. The daily scores indicate a very short lived bounce is probable, but I'm not trying to catch it.
I decided not to get in on the short position today. My opinion on that may change as facts change, but for now I'm still all cash.
BIG DAY TOMORROW! (Big FED speech if you've not turned on CNBC in the last week.) Only one more day to get past this hump!
GOOD LUCK EVERYONE!