I wouldn’t get very aggressive just yet…

Well it’s turned into a veritable slaughter of the bulls out there today.  Most high-beta stocks are down 3-4% and the broader indices are down about 2% across the board.  Despite the selling near the highs last week, we’re still quite net long overall and the portfolio’s feeling the pain today too.

I got several emails from subscribers last week asking about when to buy if they missed the opportunity to do so throughout that last big sell off.  I would start nibbling again today if you don’t think you’ve built up your longs big enough, but I wouldn’t get very aggressive just yet.  I’ll be back with a post in a minute full of details about my outlook for this market near-term.