First, never take the first bite.
Second, be ready if you buy the dip for those brave enough among you but have a trading orientation, you know they are going to sell and take you with it.
Third, stay focused on the stocks that are up, not down, as these are the ones that are trying to bottom first.
Fourth, down a thousand points from the high and it gets interesting.
Fifth, if Apple (AAPL) stays up tech is the leader.
Sixth, Cisco (CSCO) may have looked at ServiceNow (NOW) and Red Hat (RHT) , as is said, but far more important is the rumor because while ServiceNow had a blow out quarter -- watch the video with John Donohoe on Mad Money -- Red Hat's q was just okay. So that's a good sign for a group that I wouldn't have spotted as a leadership group.
Seventh, there are no oils to buy. They are too hard. They have lots of bad holders who, like every other time, came in near the top.
Eighth, don't worry about missing anything, we haven't solved the bond conundrum and the evidence says we get to 3% with selloffs on the way.
Ninth, the darned thing acts good but that means nothing in the face of any hot inflation data .
Tenth, be careful of the drug stocks. With the exception of AbbVie (ABBV) none really hit the ball out of the park. Device makers Abbott (ABT) and Edwards (EW) are better.
Stay cool and oh, traders, go buy some Amazon.com (AMZN) .
