Dr. Wish

I remain in cash and own stock hedged with put options, awaiting option expiration this Friday.

We have one more week until options expiration.   I remain in cash with a few long positions protected by put options.   Most of my stock will be assigned and I will be back to 100% cash.   This is the time to sit back and enjoy the summer heat.   There is plenty of time to jump back into the market after a real up-trend begins.

All I can say is if I do not have the disciplione to   stay out of the long side of the market when the GMI equals zero, then I am just a gambler. The way to make money on the long side is when there is a confirmed up-trend in progress.   The market is now in a confirmed down-trend.   When will it end? No one knows.   I just step off of the train until it turns around and the GMI returns to 4 or more.