GMI back to 1; in cash and hedged; AAPL and other techs holding up


We had more stocks at new lows than new highs in my universe of 4,000 stocks on Thursday.   With the GMI at 1, I am very cautious and mainly in cash.   This is no market in which to be a brave buyer of stocks.   The indexes (SPY, DIA and QQQ) remain in a longer term up-trend, however.   I therefore have remained in   mutual funds   in my university pension. It is still encouraging to me that AAPL has been holding up in this weak market environment. A number of tech stocks I watch have also held up well during the decline the past 2 days, including BIDU, SINA, ILMN, GOOG and NFLX. Rotation back into tech stocks?

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