8/31/07 IRA now 63% cash, see MDY sell points as red arrows.
8-31-07 notes: I SMELL A WHIPSAW
The correction has hit 10%, fear did wash thru the markets, but, it went so fast that most longer term retail investors didn't feel it.

Traders that weren't prepared, got smashed badly.  This was a perfect set up for long positions taking pain and more pain. White knuckle investors watched a years worth of gain vanish in 10 days.

The "less lucky" traders were selling into the dip are now totally out of sync and mostly cash as the market bounced up.  I can see traders regretting this decision and are now sweating on the sidelines looking for an entry to get back in the game.

GAMEPLAN: MDY rallies to 160, profit takers secure gains (raise cash).  We're setting up for a slide into October.