Here's another guy whose opinions I'm always sure to listen to, Marc Faber, via Bloomberg. Pay special attention to the end of the interview on his outlook for the US balance sheet and how it ends. Over the years, I've observed who is consistently correct, and who's full of hot air...

The shorter hold times have served well the last few weeks. I didn't have time to update my position page yesterday, as I was in and out many times throughout the day. The only items traded are the same I've mentioned repeatedly...

I'm aware of all the calls for stocks bottoming around current levels (1050 in the S&P 500). It might or might not turn out to be the short term low...

Too often traders not only have an opinion, but become inflexible. Direction is never a definite, but rather a probability. It's easy after a good day to convince yourself you "know something". Don't get off track...

Account equity has been bouncing around, from a new high on Thursday, to a decent size pullback on Friday. The give and take in my trading continues, but I've managed some gains through proper position sizing and relative weakness plays...