Markets rolled over again on Friday as many of the main stock indices came up against resistance at the 50 day MA. I think we in for a period of sideways action here churning between the 100 day and 200 day MA. Positional and swing trades will be whipsawed in this market, sWinging up and down triple digits. I think the best way to trade this market right now is find only the best setups, don't settle for anything less, otherwise you will get chopped up. I still like gold here as it seems to be the strongest asset that investors and traders are fleeing to. US$ and european soverign debt seem to risky these days after the crisis that European countries are having. I would continue to be defensive in this environment. Gold broke out last week and has held this level which is becoming important support. Watch the GLD and scan all gold stocks for further strength!