Changes in Latitudes, Changes in Trading Platitudes

It's these changes in latitudes, changes in attitudes Nothing remains quite the same With all of our running and all of our cunning If we couldn't laugh we would all go insane - Jimmy Buffett, "Changes In Latitudes, Changes In Attitudes"

While posting an occasional quote or witty saying is always appreciated, I am not one to spend my days devoted to a constant stream of them. 

Instead, we seek to apply sound concepts to the actual market in real-time. And when do just that, we realize that our recent bias of staying defensive but opportunistic (in terms of shorts, inter-market trades too) and holding high levels of cash in our trading accounts are not just empty platitudes but, in fact, serious strategies we must seek to continue to adhere to as long as the market is acting in the manner it is today. 

With that in mind, as the Dow falls 700 points down to its 200-day simple moving average we must resist the urge to be the first mover into the bottom-fishing arena where the likes of AMZN INTC (down huge today) NFLX TSLA, among others, may be as alluring as the Sirens of Greek mythology. One reason to initially resist the urge: The VIX is not super-spiking up through the 30, 40, let alone 50 like it did earlier this year. 

In fact, the VIX is relatively subdued here and actually may be indicating some complacency in the tape on the part of longs. 

As a result, the game plan of defense but opportunistic inter-market trades (precious metals and miners especially today), sprinkling in some actionable short ideas for Members along the way.