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Hold short term 3 month TBills/Inverse ETF's/Cash, and Buy puts if you understand option pricing and volatility Deflation.

Who knows? The rally could last until lunch tomorrow or six weeks from now, in any event, it is a typical counter trend rally.

Watch the TED Spreads tomorrow, if they narrow, the rally is likely to last longer, if the Ted spreads hold or widen, sell if you have been losing money and get to safety.

My bet is that market will drop big time again before October is over, I will wait until tomorrow to see how the spreads move. Bottom line remains the same, DOW could end up between 4,000 - 6,000. Timing - I don't know, in its own time.

I hate to sound like a broken record, however they only way out of this mess is...A) the markets must deleverage and reprice risk and B) business/government/society must become net savers.

Retirees, please play it safe and wealth preservation should be your goal in this turmoil.