churning about

I am green on the day with nearly everything up a little. My worries short term are how earnings are going to be and particularly what forward guidance will be. I don't sense that there is much conviction in the buying and for good reason, because of where the economy could be heading, which may be lower. I am sitting with about 20% cash. I feel the only way we are going to get the market juiced again is 1) fed hinting of a rate cut 2) some high profile companies saying that growth going forward still looks strong. We won't know that one until next month.