US Dollar watch.

2011.

In recent years the market has shown a consistent tendency to bounce back from selloffs that occur on the Monday following options expiration. In fact, 16 out of the last 17 occurrences since 2005

SP-500 defending support area.

Where are we going next ? We are going to go ..... with the flow.

Defense is not only the best offense in this business, it is the only offense that works.

There's time to press and then there's time to sit and wait. Sitting and waiting and a lot of patience is required now.

The essence of success and happiness results from actualizing your potential, which requires a constant process of learning and growing, as well as the recognition that making mistakes is an inevitable, even essential, part of life.

Think about it!

It could help you set up your objectives.

Watching.

Right now, the best new action might be no new action. Let things
shake out. There aren't a whole lot of meaningful setups anyway.

Someone said, “Luck is what happens when preparation meets opportunity.”

Success occurs when you have a definite purpose for your life and you take the initiative to follow through with action. You may make mistakes occasionally -- everyone does -- but any action is far better than doing nothing.

So what do we do now?

The market is severely overbought--gaining
nearly 6% in 5 days. It's very dangerous to buy it at this
juncture. Keep stops on open positions and wait
for a break of the range or a pullback to get involved with new positions.