Weekly Update 5/10/2010:

The "Top" that we have been looking for now for several weeks and months, may very well now be in place.  In the last two weeks the market has dropped enough to "wipe out" the last five months of gains.  Last Thursday, the market experienced a historic 1000 point drop Dow Jones index intraday, that recovered to close with over a 300 points or nearly a 3% loss for the day, followed Friday with another 150 point or 1 1/2% drop. That's one of the reasons why we continued to hold our "SELL" position, even though it was a bit painful during most of that time.  Once you "throw in the towel" and move to cash, it's very difficult to maneuver getting back into the market to take advantage of the downturn once it starts to happen...because it happens "VERY FAST".  However, if this is a "major top" than we can expect some significant "volatility" with bounces that can take us nearly back up to where this downtrend began, before resuming a longer term downtrend.  We will now be watching to see if the market proceeds to make "higher lows" as it continues down the path of establishing "lower lows" as it did last Thursday.  If it does and it continues to do so without exceeding the highs of two weeks ago, we will be able to "confirm" that the longer term downtrend that we have been expecting for months is now in place.  Until then, we will continue to hold our "SELL" position and keep you posted if any changes are needed.  Yours for Safe Sailing in Bull and Bear Markets.