Negative signals from the credit markets, combined with worries about dollar devaluation, rising oil prices and commodity-fueled inflation are making it a difficult market to call, even for veteran market watchers. Last week, Todd Harrison of Minyanville outlined 10 tips for a tough tape. Regardless of what type of investor you are, these are insights worth checking out:

(1) Be willing to re-assess your risk profile;

(2) Learn by watching the daily opening;

(3) Find the 2-3 stocks that are "tells" for the broader market;

(4) Don't confuse volatility with information;

(5)  Synch your time horizon with your risk profile;

(6) Let history be your guide;

(7) Don't fall in love with certain stock positions;

(8) Always have an exit strategy before you pull a trigger on a trade;

(9) Remember that recession is a "mindset";

(10) Focus on spotting new opportunities in the marketplace rather than worrying about the future or lamenting about the past;

Of these ideas, I found #9 to be the most interesting, #3 to be the most helpful, and #7 to be the most practical. It may not be possible to follow all of these ideas. Depending on your risk-reward profile and the overall composition of your portfolio, some of these ideas may be more relevant than others.

[image: New York City ticker by Bikoy on Flickr]