For end-of-day (EOD) trading, during periods of high volatility, use the end-of-day HEIKIN-ASHI CANDLESTICK OSCILLATOR (by Sylvain Vervoort) on stock symbol ^GSPC (SP500), and stay out of markets until the green shading appears again. This indicator suggested getting out on 5/3. For asset preservation, I would suggest only getting back in when the green shading appears again -- which may be several weeks from now.
The dollar is going up during this period, so UUP (bull dollar ETF) is doing well. Also, FXY (Japanese Yen) seems to be doing well. Pimco's PTTRX total return bond (corporate and Treasury) is a bond fund that's also doing well right now. The entire world is currently jumping on the dollar for safety, and much less for US stocks -- so be sure to watch UUP. If things get really bad (-30-40%), put everything in a short-term US Treasury money market, since an "I owe you" from the US Gov't is the safest thing on the planet. At this point, would not have cash -- but rather short-term US Treasuries. (the dollar can crash and burn due to our own debt, but US Treasuries are an IOU.). Gold is another option, but never do more than 10-15% of your portfolio in gold. When the storm is over, get back into stocks.
