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[qqqqtrdr]

I'm currently long and nervous.... Most on the board know that I have been bullish over the last three weeks and longer...... Although I'm still bullish overall, there are definitely reasons for concerns if we pull back.... OEX Put/Call ( 10-day average is relatively high ) close to a three month high, while CBOE and Equity ( 10-day MA ) are at three months low.... This divergence is relatively accurate in predicting medium term direction... In this case down.... It does not pick the day the turn will happen whether it is this week or three weeks from now... I am hoping the divergence of these indicators disappear, but so far no luck.. Although the 10-day MA for CBOE and Equity have room to run much lower or more than a small pullback. The worse divergence gets the worse the pullback.... I have positions in Ford, Catapillar, F5 Networks, Medtronic, and ARM. I have sold Friday Broadcom and am looking not to reinvest since the Dollar has dropped since the with a RSI(14) close to 33... I feel the dollar will gain in value over the near term.... F5 has had a run from 70 to 108 in the last three weeks, so will likely put stops in place tomorrow to lock in gains....... Ford, Catapillar, and ARM came out with good earnings and outlook, and will keep for now..... Medtronic is a wild card to keep my eye on..... Barry