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 and have failed to accurately interpret historical precedent. We are in a very difficult investment environment right now and must invest accordingly. Consider the following market moving news items of the day:
During a death march, it is important to remember that events and dates do not serve as catalysts. The only meaningful catalyst is price action. Take a little cash to buy dips and sell rips. We remain very happy to have 59% of the portfolio in cash with the majority of our Apple exposure in 2012 and 2013 LEAPS. Exposure to other stocks and the market in general is non-existent for a reason. The investment climate 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 delve too far into the bizarre and unimportant. Instead of releasing an outrageous list full of shocking but highly unlikely phenomenon like water shortages and debilitating terrorist cyber attacks, we are going to attempt to provide you with something that will help to generate investment returns. Stay tuned for our list of 15 market-moving themes that will guide Stage Three of the recovery.