GMI: 0; GMI-R: 0; only 81 new lows; staying in cash

The GMI and GMI-R remain at zero.  While the market is declining, there were only 81 new 52-week lows on Wednesday in my universe of 4,000 stocks, compared with 844 and 1,453 on January 18th and 22nd.  In other words, most stocks are holding above their lows during the steep January decline.  So let’s not be deceived by the decline in the averages.  Things are not as weak as they were last month.  The Worden T2108 indicator is now at 35%, also up from the January low of 18%.  With only 8 stocks hitting new highs, it is time for me to remain in cash and to stay off of this roller-coaster.  (Why does Cramer tell his audience to "stay in the game?") The former leaders are getting shot (BIDU, CME, AAPL, ICE, RIMM).  Wednesday was the 24th day of the current QQQQ short term down-trend and if you exited the market when I did, you are sitting pretty.

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