Operation: Live to Fight Another Day

Risk happens fast.

Market like these show just how quickly precious, hard-fought gains can evaporate during corrections. 

While many insist on being heroes and bottom-fishing what is obviously a deepening correction with a distinct inability to hold bounces, the likely better strategy is to respect the open-strong/close-weak correction blueprint, as well as "good news" being sold aggressively on the IBM/RHT front. 

The QQQ daily chart is printing a sizable, ominous-looking bearish marubozu for today's session into the bell, reinforcing risk overnight as the VIX is barely moving compared to what it can do in corrections. 

It may be bold being a hero during corrections, but these days there is a fine line between, heroes, goats, and "GOATs."

In other words, cash ain't trash.