Prepare for another wash out (5/16/2011)

Market tumbles again today leading by high multiple techs such as AMZN, NFLX, etc. This is another indicator that there will be another wash out coming in the future.
After market, there are reports that some very smart big names liquidated their commodities names and financial names. This indicates that commodity sell off is still on going and far from over.

Since the breakout of S&P has failed. It is high probability that we might see quite a bit of down side. (market is in oversold zone, this is not the place to short index, but short chosen individuals stocks).

At this point, investors should stay in cash and not buy stocks.
Aggressive traders should go short to play market downside. (Short SD, etc.)