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08-21-11 Weekend Written Recap plus Bonus video: Sunday nite Video market prep

08-19-11: Market Recap: Easy Does It 'till September
[reprinted with permission form member site]
"No video tonight, will be traveling. Lots of content posted this week, I reviewed it...that's my suggestion. a lot of good reading. Here are a few highlights and thoughts:

1. Cash is the only safe position short term;
2. High yielders taking a beating but I'm a holder for the yield. I feel like they will come back, in due course, althougth a couple are beaten up a bit;
3. We have not bottomed, and there is no way to know when we will. Everyone has an opinion it seems. They are just that;
4. In time, over time, money will flow to quality earnings (yes, in Tech, Industrials and Retail) and Energy/Materials;
5. There is a downward spiral that cannot be fought;
6. Thre is no confidence in political leaders, that vacumm of leadership, in the EU and US means we can go MUCH lower. Big $$ can be extremely patient;
7. We might slip into the dreaded double dip... the WLI is trending down again, it may be a self-fulfilling prophecy;
8. WE can always get a surprise coordinated Fiscal Or Monetary action by governments..but its doubtful as they are broke and out of bullets;
9. SO? Its like your golf game or fishing ... let it come to you. Capital preservation and always having a buy list ready is key. it keeps us in the game. I always start with the Focus Worksheets, you know which I like.

Epilogue: Some day, Financials will be a HUGE buy, that may not be this year...or next. And shorting Treasuries will be the trade of the decade, some day... so, hording cash, protecting capital, trading short term and staying out of the way. My nibbles are back to a couple a day with tiny positions. Bollinger may be right, a few closes this next week inside the lower band and we could bottom. But we can't count on it. Ben speaks on Friday, I think  it is. QE3 may come, even if we really need to bite the bullet... "

We posted this video tonight to get ready for tomorrow, maybe a silvre lining in all the carnage?