The market continues to send out mixed messages. The DJIA closed at a new all time high on Friday, while all the other major market indices failed to follow. Lot of debates around the divergence between the large cap/value stocks and the small cap/growth stocks. Until the market send us a clear signal on its direction, it would be prudent to keep our positions light and tight. Again, cash is a position and the sideline might not be a bad place to be while we wait for the message from the market.
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Disclosure: Long SPY & IWM PUT.
