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I am 100% in cash.   Market did better on Tuesday than is apparent from averages. Only 337 new lows, down from 1465 on Monday. There were 40% gainers versus 7% on Monday.   With T2108 at 6%, the market is very oversold. Guppy chart of SPY is not yet BWR, but RWB pattern is clearly over. Red arrows show month of May and that Sell in May worked like a charm this year. Thus far, the current decline looks quite small.

With T2108 in single digits and the futures strong, I am tempted to nibble a little at QQQ or SPY. I have said many times that I should buy when T2108 is in single digits and everyone is scared….

The T2108 has fallen to single digits. I have always found that I should have held my breath and bought anytime it has fallen below 10%. While on vacation last week I went 95% to cash in all trading accounts. I will wait for the dust to settle to determine my future moves. My short term QQQ trend indicator is in the 9th day of a down-trend. Maybe I was too quick to stop posting that indicator. It had whipsawed so many times recently. I estimate that the   GMI would have flashed a Sell signal last Thursday or Friday.

IN SPITE OF ALL OF THE PROGNOSTICATIONS OF THE CNBC PUNDITS, NO ONE KNOWS HOW OR WHEN THIS DECLINE WILL END.   WE MUST BE CAREFUL AND PROTECT OUR MONEY.

As I struggle to maintain my weight loss of the past few years, a friend told me she was going to try the cold body sculpting method of reducing bulges. I researched the company (ZLTQ) that produces this new body shaping technique and bought some shares. Maybe this stock will win the battle of the bulge?     ZLTQ recently had a third green line break-out to an all-time high and has been making money.

I will not post again until 8/25–a rare vacation.   Enjoy the summer market doldrums.