Got it Right for One Day

The market suffered a nasty reversal today. It gapped up at the open, and trickled down all the way to the close. I was truly happy I got stopped out of CMG and GOOG yesterday following the market reversal. The more I think about it the less I want to own stocks. It is just so dangerous out there right now.

The reason the market is falling apart right now is because the Dow Jones Transportation Index is selling off. What that means to traders is that the economy is falling apart. So they sell the transports, people sell the market because the transports are crashing, one thing leads to the next and we are at DOW 10,000.

I hate to paint such a pessimistic picture but that's how I see the market right now. Sell rallies and tentatively buy dips. Leverage is a big NO NO.

For informative purposes my portfolio right now contains: PG, NBR, HAL, BP, Q, SLB. In case you noticed that is pretty much all oil. The rest of it is in cash, as I will earn more in that than owning stocks.

I hope to update again on Sunday as I am on vacation for the rest of the week. Be careful out there in this market.