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No matter how much noise I hear out there on the bubblevision I refuse to fall for their trap and get emotionally involved in a market that is so different from one day to the next. The semi-good news is that the general indexes are all in clear downtrends and if stocks can start failing left and right, I will not be shy about getting short.

However, I do realize that we have been going lower for a long time and I would prefer to focus on getting long as quickly as I possibly can. However, medical stocks being the ONLY leading sector does not make me confident that we have seen the lows and it is straight up from here. It would be real nice to see more than a ONE WEEK rally attempt by the financials and the automobile stocks also.

For now, seriously, take it easy and protect that capital. The easy money is waiting to be made and the time is not now. One more time, be careful out there. I am about to pass out.
Good night.

Last 5 posts by Joshua Hayes

• Following Through on Friday's Gains Stocks Stage Another Rally on Strong Volume - June 2nd, 2009
• Small Cap and IBD Indexes Lag the Major Indexes with Volume Higher Across the Board - May 29th, 2009
• Are Items That Fill Up Your House too Expensive? Then Rent Them at Aarons Inc. - May 27th, 2009
• Finally We Have The IBD Indexes Leading The Way As Stocks Rally On Heavier Trade - May 27th, 2009
• Ending in Mixed Fashion Stocks Fail to Close Out With Gains Seen Earlier in the Session; IBD Indexes Take the Lead - May 20th, 2009