Housing was rosy this morning, and perhaps deceptively so.
Bernanke calmed the markets and gave the bulls some cajones to by the dip.
The sequester looms large. A lot of bets are on that they will kick the can down the road again.
I'm not willing to take that bet at this time. I am too uncertain here about the short term in this phony market, after this big spike in the VIX. So I have taken a lot of money off the table.