In CASH (closed all positions @ SPX 1254 on 12/22/2011)
I'm still in cash and waiting for a meaningful correction (7% to 10%). Indices are overbought, but pushed higher via their futures everyday. The rally since mid Dec 2011 is getting over extended. Indices are going higher, but on lower and lower volume and shrinking number of new highs.
Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation. Furthermore, the opinions expressed may change without notice.