Update – chart added at end of post
It’s possible today’s opening move was one of the last chances for longs to unload before the big move down. I trimmed some of my shares, but ended up 
buying a few other stocks at the end of the day to essential remain unchanged in the amount of cash I have invested in the market. I am playing with profits from the past 2 months, so I’m afforded a little more leeway than some, but I never want to give back what I’ve earned.
Click to enlarge the chart of the Dow and you’ll see the red box where profits should be taken or potentially enter all longs. We have reached the previous highs and a pullback here is very logical with a lot of room to fall if we collapse back in the channel. I still see the cup with handle as the bullish scenario that plays out, but we’ll have to wait for the macro-garbage to run its course.
Tomorrow will probably be another stalemate just like today where we end up exactly where we closed. Any move either way is not to be trusted and I won’t be opening any new positions tomorrow.
Short term we are oversold based on the -DI line and that was why I picked up AVGO, BLL, EL in the afternoon, as they all gave buy signals. Here are my current holdings. http://screencast.com/t/Zj4DXjKtivI
Important Vix chart (click to enlarge)
