Beware: Keep Out!

The selling pressure is on, and fears of international economic turmoil are once again at the heart of the market. Last week we recommended cashing out of the market and storing your 401k's in a safe place until the market volatility settled. We still believe this advice to hold true, until definitive confirmation that the market is settled. Continue to look for dip buyers, especially near close of market to begin seeking a market bottom. We appreciate a 3 day trend upward with dip buyers to feel comfortable putting our money back to work. Until then, stay clear of a wake that may last. If you are feeling risky, you could short some of the significantly over bought sectors including retail. Also, continue to keep an eye on job's reports. Investors are starting to fear that the jobless recovery may not be as practical as once thought. Good luck and we will advise you when we are putting our money back into play.