Patience pays

I am still patiently watching on the sidelines except for some of the PUTs I have written on AAPL and MT.  The following quote taken from an article in smartmoney.com gives the sort of things that make me cautious.

 "If you need a bearish thesis on stocks, just follow the money. Over $17 billion in capital fled exchange-traded funds in August, the biggest month of outflows in the history of the ETF industry, according to Index Universe. The details are even more disturbing, with a whopping $14 billion pulled out of the flagship SPDR S&P 500 ETFSPY +0.10% , the single-biggest proxy for retail investors."

The crowd sourced information on budget cuts and downsizing at various companies that I discern from my friends and contacts seem to suggest that despite outside posturing, many are bracing themselves for a grim 2014.  So, for now, I continue to remain mostly a spectator only.  More later.