Patience.

It sounds simple enough.  But for most of us, it isn't.  Ever have that driver pull out of a parking lot in front of you like he's driving to an emergency (of course there was no one behind you, he could have waited for you to pass but had to cut you off instead) ... and then proceed to drive down the road in front of you slow enough to make you think he has a flat tire?  Does this just happen to me?  You sit there behind the wheel  wondering if the only rush he was in was to get in front of you to slow you down. -  Or at the checkout line.  The customer in front of me invariably always has something going on.  Just buy the stinking thing and get out of my way.....  but it never seems to work that way.

Patience.

Is it easy to accept delay without getting upset or angry?  Hell no!

Patience and trading stock options go hand in hand.  Is it easy watching your trade erode as the timer is ticking toward option expiration?  Hell No!

It's a heck of a lot easier to see things after they happen.  You know.... hind sight is always 20-20.  Just like this stock market, the unabated rise of Biotech was met every step of the way with the Bubble talk.

The Federal Reserve was even talking about it last year at prices much lower than it closed at on Friday - as I noted earlier this past week on twitter.

Bacon anyone?  

Trendlines Matter...........finally

As we try and navigate this mess of a market in 2015, I think its important to look at some charts of former market leaders.  You would hope when one falls, another steps up to takes its place.  And that has been the case for some of 2015.  But I am seeing more and more charts succumb to this market correction, which I believe means lower prices lie ahead.

Yesterday's early action put the official stamp on my bearish stance this Fall.  $CAT came out saying they are going to get rid over 10,000 of their workforce and lowered their outlook.   Yes the CAT is out of the Bag.  My question is who is next?

After yesterdays sharp morning decline a late day rally brought them back to positive territory.  After the bell Yellen's speach goosed stock futures to fresh highs.  Europe hopped on the rally bus... and this morning stock futures are over 1% higher.

One speech, one spike to the upside does not change the transformation we've seen with this market.

The opening bell is a few minutes away, so let me wrap this up.