The No Clue What To Do Market

If you don’t have a clue what to do in this market, you’re not alone.  After forcing myself to watch the testimony on the Hill the past few days, I don’t know if it’s comforting or frightening that they don’t have a clue either.

The markets got to give us a few more clues here on direction, before I make too many moves. Todd Harrison gives good advice for appropriate action in this market.

“Understand that opportunities are made up easier than losses and the ability not to trade is as important as trading ability.

Remember that risk management trumps reward chasing and profiting is a privilege rather than a right.

Most importantly, take the time to be mindful of the little things in life, situations that you may have once taken for granted.”

Oil stocks still have a gap to fill above.  OIH filled the downside gap yesterday, and I’ve got to believe, that upside gap’s going to be filled, before the next leg down.

The VIX is back up to 35 here, which would indicate some type of relief rally is due.  I’m quite happy just pulling small pieces out of this market.  Patience is still the key.