Not much happening today except that we are down another 150 points on the Dow (no surprise, again because all we are hoping for at this point are bailouts, stock valuations getting attractive, and positive earnings estimates). But with the slew of negative data out today (check my twitter page under Top Traders), I am staying away. No reason to be buying stocks at the moment, especially as earnings season kicks off next week with Alcoa. If you had to, non/ cyclicals and healthcare names seem to be working- like CVS MO and TJX (TJX we own). But I would rather stay in mostly cash, (85%) and keep my powder dry.
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