I've been getting a lot of email asking if this is the "big one," as in down we go to the March low or below (do you like the rhyme?). Well, that is a bit premature (and I don't think we see a new low) but it sure does look a lot like January.
The difference is that sentiment was rather frothy despite what some of the surveys might say. Every bit of news coming out told us the economy was getting better and the stock market reacted like it was a total surprise.
I'll be selling the back and fill. I already have enough cash to be protected.