It appears we made the right decision in standing aside this week.

The economics are worsening and the triple digit swings in the Dow would have been terrible for stops. August and September are the two worst months of the year in the market and with the economics declining I would say the odds are good for that trend to continue. I will scan the charts again this weekend and see if there is something bucking the trend.

I expect a little short covering on Friday because of option expiration.

We are flat and I am in no rush to add plays just to be adding plays. There is always another day as long as you have money left to invest.

Jim Brown

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