Still in Distribution

Until I know something else, we are in distribution mode and I should be (but haven't been) raising cash.

Yes still see bullish setups, yes, yes, but if I start seeing them fail in the coming weeks then that will be another huge indicator to "sell in May, and go away"

I'm not encouraged by the continuing underperformance underneath this market of the smallcaps, Real Estate and Retail. Plus the financials are just beginning to look green around the gills as well.

I write this before the inflation numbers come out at 8:30am EST...they will set the tone for today, but regardless of that crap (soft number could spark another wave of pompom waving and weak buyers) I'm raising cash where I can. It's hard because I really like most of my positions very much.

Into the volcano: DD and possibly UL. I'm not down on DD; the stock has simply underperformed the rest of the portfolio so I'm going to convert to cash with a small profit. UL has been great but again if the consumer continues to go hit it might be a good time to bail.

I might enlarge my proshares bear ETF positions in the near future, and I need cash to do that.