James "Rev Shark" DePorre is the author of Invest Like a Shark: How a Deaf Guy With No Job and Limited Capital Made a Fortune Investing in the Stock Market. He is founder and CEO of Shark Asset Management, an investment management firm, and he also operates sharkinvesting.com, an interactive online community that serves and educates active investors.Expand

DePorre holds business and law degrees from the University of Michigan, is a member of the Michigan Bar Association and a former attorney and CPA. He lives in Anna Maria Island, Fla., and Conover, N.C., with his wife and three children. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks.Collapse

Even if that doesn't develop, there are still reasons to be cautious.
This is one of those days when it may pay to walk away.
Weakness in high beta, big-cap names indicates that bulls are losing some conviction.
Market's price action suggests a higher level of caution.
But it's still too early to think the dip buyers won't show up.
Biotechnology is showing little relative strength and oil is up again, but there isn't much going on with themes.
The list of pessimistic arguments is endless, yet the market shrugs.
Of course, market participants make it much more complicated than that.
News still doesn't matter, but look for small, quick trades.
But it is not without some pain.

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