I will be all in cash as soon as I finish my MLP trades this week CQP,EDP,PAA. I will remain in cash until after the election and we have some resolution for the fiscal cliff facing us Jan 1. I also just feel more comfortable trading the market instead of investing in it. Just my humble opinion
After I manage to extracate myself from CQP and PAA later this coming week I too will sit on cash until I know election results and know what the tax code is going to be and see some resolution to the fiscal cliff. Then I will #$%$ the climate and decide whether to reenter any option trades or continue to sit on cash (or convert more of it to PM's etc).