NEW YORK (TheStreet) -- The Apple (AAPL) death march, mirroring the 2009 end-of-year action, continues. All those investors who are loaded up on January out-of-the-money calls -- in hopes that the Verizon, China, iPad/iPhone, MacBook Air, Apple TV and earnings catalysts will lift the stock -- have failed to identify the current market trend andhave failed to accurately interpret historical precedent. We are in avery difficult investment environment right now and must investaccordingly. Consider the following market moving news items of the day:
During a death march, it is important to remember that events and datesdo not serve as catalysts. The only meaningful catalyst is priceaction. Take a little cash to buy dips and sell rips. We remain veryhappy to have 59% of the portfolio in cash with the majority of ourApple exposure in 2012 and 2013 LEAPS. Exposure to other stocks andthe market in general is non-existent for a reason. The investmentclimate post QE2/elections remains highly uncertain. I'll be sending out the November Economic Timing newsletter at the end of the week. At this time of year, it is a great tradition to create a list of predictions for the new year but most analysts delvetoo far into the bizarre and unimportant. Instead of releasing anoutrageous list full of shocking but highly unlikely phenomenon likewater shortages and debilitating terrorist cyber attacks, we are goingto attempt to provide you with something that will help to generateinvestment returns. Stay tuned for our list of 15 market-movingthemes that will guide Stage Three of the recovery.