tough day in the markets.  the S&P was down 2% plus.  We are right on the 20 day moving average.  As we have talked about numerous times in the past 1 day does not make a trend. 1 day is not even the beginning of the beginning of a trend.  the key is follow through. Without confirmation today means nothing.  but it does mean to keep our eyes open to the possibilities that the structure of the market has changed.  So be tighter with your risk. Take smaller positions and keep lots of cash



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