Sell, Sell, Sell!

The markets got clobbered today. Period.

I feel pretty well positioned now. A little extra cash than usual and confident in my current positions. Will be looking for capitulation volume in the next few days to load up on my fav's and possibly start a new position.

I must be doing better than back in January because emotionally I am calm, but cautious. I must ensure I don't get too impatient during this sell off, but able enough to step in at the right moment. I read that companies are not allowed to buy back their own stock during the last few days of the qtr, so there is less support than usual for those stocks whose companies are buying back. The bull trap was vicious today coming off of an attempt at a rally in the financials. GS low is in the 140's, so there could be quite a bit more room for the banks to fall.

With oil pushing the 140 level and OPEC making statements of possible 170 levels, the energy stocks should have a nice rally once the broad market gains a foothold. Commodities should also fare better than the overall market as inflation is much higher than the media will admit, although they did quote Buffet on his bearish inflation comments.

The overall trend is still down...caution is advised. Pick your stocks carefully and for heavens sake...get rid of your bonds until inflation is under control!