I think I am stuck in the middle of selling and just hanging in there, but I am just hanging in there for the time being. It seems as though the action in the market has not being driven by anything at all, not news, macroeconomic indicators, or anything else.
Here's what I have been doing lately:
Stare at the screen, shake my head, and ... :-o
We still have all of the fundamental bases upcoming, so I am not extremely worried, but I am still in awe of what is going on. There are still several things that could occur, such as the Dollar dropping (the US Government continues to take on debt and such), the VIX unwinding to low levels, Treasuries selling back off and people getting back in the market, and people coming off of the sidelines with their cash. Also, the price of gold goes up, and the gold mining stocks go down. The stimulus package in China could start to take effect. The market is also over 30% below the 200DMA, which is extreme.
I can't help but wonder...
Is the demand for oil and gasoline really that low? I find it difficult to fathom.
I'm wary of the balance between inflation and deflation also.
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