Cash Is A Position Too

I am at the point where I really don't know if we crash here, or go up 700 points. As a result of my confusion I am playing light until I can get comfortable with a direction. Oil is off slightly, the dollar is up a bit and futures are flat. Bridgewater reports that bank losses could be four times greater than originally thought and if all of this junk gets marked to market the losses could exceed $1.6 trillion. Another Swiss paper reports that UBS and Credit Suisse may need to raise an additional $68 billion in the form of stock. I personally think banks are in the 7th inning and there is more bad news to come. I am hearing a major bulge bracket will implode soon. Some banks to watch for lower prices are: WB(my calls are taking a dirt nap) KEY,BAC,ZION,C