Sometimes I wonder why so many of the new investors watch the market intraday with all the scare tactics out there that the media regurgitates daily to us all in an effort to generate fear or overconfidence and to make you watch and trade.

There are times when to get REALLY INVESTED and there are times to do nothing. For 90% of you (unless you are picking my longs and shorts BEFORE I do) doing nothing is the only right thing right now. I simply see too many people actively investing that should be completely on the sidelines. And if you are on the sidelines STOP THE PREDICTING!! Just wait for really nice charts to set up and breakout.

I think sometimes the best advice is no advice and right now I wish a LOT OF YOU would stop going to these financial websites for “advice” when all these writers are spouting out random analysis that is shameful and when I read it makes me confident I will continue to outperform the masses. It may cost a lot of money for a Harvard Education but I am not sure how much that is worth in the stock market.

For me, I will have lived and made money in 1999 and 2003 and lived and made AND LOST money in the bear markets of 00-02 and now of 07-08, I know when to go big and when to go home. Right now, it is still time to stay at home. The pro’s can get into the gold, medical arena, after the gains we saw in some stocks for us like PDO but newbies you must continue to exercise caution and stay out of this market THAT HAS ONLY PRODUCED 60 stocks up 100% or more this year. I will remind you, ONE MORE TIME, that in 2003 there were already over 450 up 100%. Not only that at the end of the year we had almost 20 stocks that made 1,000% gains; this year there have been zero!

Don’t panic sell here! Don’t bottom call! Just sit back and WAIT FOR A FOLLOW THROUGH DAY and watch the professionals work the market. Maybe one day you can match the style. But if you are a newbie, you are entering a HORRIBLE market and whenever you give up you will, I guarantee, probably give up at the exact market bottom. Remember, just ONE MONTH before all those pretty medical and Chinese stocks started setting up in October-November in 2002, I told a very important CFO of a Fortune 500 company that “stocks were probably never going to come back.” How smart was that call? Pretty dumb huh? I still NEVER stopped watching my charts and by the time the FMDAY TASR HILL EVOL USNA setups arrived I was already MORE-THAN-READY to get VERY LONG. Just like I will be when this market is over.

We are close but I don’t think it, seriously, is extremely negative out there. The put/call hit 1.29 but is still below the January to February highs, The VIX has not hit 40, but the bulls/bears investors intelligence is already setup correctly with 47% bearish and 27% bullish (new numbers come out tomorrow so we will see where they go). I think there is more to come. However, it doesn’t matter what I think what matters is what I tell you to go long/short and how much of it to go long/short. Some of you newbies think you can play with the big dogs. I am hear to tell you, NO MATTER WHAT YOU THINK and NO MATTER what YOUR EGO says, you can not “out-game” this market. It has already gamed you, if you think like that.

I am very tired from all my medical conditions and have been pushing it very hard and neglecting some other stock market columns I would like to write so for symbolic purposes in trying to show you that doing nothing is the smartest thing to do there will not be any new commentary this weekend. That is unless we have a MAJOR EVENT happen. Then I will make an exception. But the Dr.’s have ordered me to rest. Subscribers, you know I will be in the chat room 24/7 and that the silver and gold will be FULLY updated. It always is. But I need to take some time off from all the “noise.” If it is not a chart, it IS noise. ALOHA for a few days, if you are not a subscriber, I need a break…not from this market but the noise that is coming out of it. Time to rest. ALOHA!! Remember, subscribers, I will still be in the chat room and site.