It is a tricky thing to do, and frankly, not that many can do it. Even with the right charts, trading will simply become more and more difficult from here. (Want help in this tough environment? Check out Jon Markman's Trader's Advantage by clicking here now.)

As an alternative, I think the time has come to build a portfolio on the long side and stick with it. If you were out of the market this past week, you missed an impressive rally that has continued today.

In my own model portfolio, I am content having a 75% allocation to stocks, and I will do very little rotating in this environment. In fact, I would like to be 100% allocated to stocks, if not more. (See also: "Top 10 Stocks for 2009.")

What will be the trigger for making that move? 

For me it will be the passing of time or one more test of the lows.  As I said, fixing this economy will take time and will take more time than most are now expecting.

In the interim, I'm content with my long positions and a small amount in reserve. I will deploy as I see opportunity.

This article was written by Jamie Dlugosch, contributor to InvestorPlace.com. For more actionable insight like this, go to: www.InvestorPlace.com.