There is still little clarity regarding the market, and that is causing this discount. The DMI (or ADX in the chart below) indicates a large negative attitude.
Many internals (individual stocks) seemingly have this negative attitude. From the media reports I hear and read, imo, this is due to hedgies getting under weight thanks to their uncertainty. This can be bullish, cause they will become bullish very quickly when perception change. However, there are key stocks that do not express this negative view. Or rather, show some strength. An example is GS, IBM or NAT. Superficially, GS looks negative, but past the superficial there is strength. (And added to the names today because of the strength.)
Because this uncertainty can make the market do crazy things, I just want to be prepared to try to take advantage. If the market collapses next week (as the traders on CNBC are saying), I will add to my AAPL, IBM, GS and other positions.
Although there is talk of a capitulation via Fast Money today, I just do not see that happening. We shall see.
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