Earlier this week I wrote an article titled Torn, where I outlined how I was torn between my indicators being positive and the economic shitstorm that is about to hit us. Yesterday's monstrous rally followed by earnings warnings today from Fedex and Nokia are a perfect example of my predicament.
I believe that by the Fall the bears will win the battle but I would not be surprised to see more rallying in the coming weeks. My positions are small and I am considering going completely to cash by Friday. The best course of action might be to wait until the Fall to pick up the pieces.