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?