A technical trader doesn't really care where the market goes, but he does care what the market is doing. When there's panic in the streets, the market isn't going to act like it does on the other 90% of vanilla days/months/years that can be profitable, rendering essentially all equations you can throw at a market useless unless you're looking at a 75 year chart. (hey, double bottom on GM!) When in doubt, stay out. It is going to be news and emotions that drive this market.

For long term investments, we're still undervalued. I will reiterate McDonald's and WalMart. I'm actually ashamed I never said to short the automakers (this just in) six months ago, as I was shorting names in energy, financials, market indices, and commodities companies like Potash. Google is another name that has gone in the can and would be a good one to hold as it's on sale now. Over to other fundamentals, I'd like to have more faith in uranium stocks and as a commodity but a lot depends on the President Elect's policies on energy. We shall see. Until then, uranium exploration companies lie in doubt for me to get back up to their previous glory.

Disclaimer:Any information contained in the above article represents my opinions only, and should not be construed as personalized investment advice. I cannot assess, verify or guarantee the suitability of any particular investment to any particular situation and the reader of the article bears complete responsibility for its own investment research and should seek the advice of a qualified investment professional that provides individualized advice prior to making any investment decisions. All opinions expressed and information and data provided therein are subject to change without notice.