ST only.
From this morning's letter:
"Last time, I said that, oddly, the VIX jumped markedly going to a ST Buy and an IT Sell. Odder still the OEX P/C was flashing a weak Buy in the same context. We were/are still on an Options Oscillator Sell, and technically, we should see some selling. Our "Best Fade" Sell technically has a roughly 89% chance of bringing some Selling. We were hoping to get some clarity from the Message Board Sentiment, to help us determine if we can get a pullback of at least some utility. This morning's sentiment readings suggest something is up, but there's a lot of mixed signals in this data. The Opinion Poll is Bullish for the market. The lack of Fully Long Bulls has to be considered at least possibly Bullish, conceptually, but this is such a rare reading that it's hard to hang your hat on it. The plurality of Short Bears is actually consistent with a top. That's not a signal or a lock, but if you want to pick a top, you want this crew to be short. There's always extra risk in top picking, but my read is that this is about as good a set up for a swing top as one gets--not good enough to send me to the showers (for Timer Digest), mind you, but pretty good.
