Ruled by fear

Dow Jones fiddling at the top of its range 19 October 2011

Frankly this market is boring. It is going nowhere. Although it is sitting at the top of its range fear has so far prevented me from taking out new shorts. And this is despite the fact that logic dictates that I should. What if logic is wrong and the market breaks out upwards? Yesterday's volume spike was not big enough to give me the confidence. Fear still rules me. I will stick with what I have till I change my mind.

We watch, we wait. Have no more to say.