You are correct, this kinda market favors the "trader,not Investor. and Yes to trade,even using my style of Option Hedging you need be be available  When the markets are open, even Longer  for Pre-after+After Market moves.. Again in this type of market We have at this time..

And I understand, NOT everyone  has the Time to devote  to the Market, many also don't have the desire  either.

Again, Investing is a Different animal to Trading.

WOW 18 months holding..I haven't held even a Mutal Fund  that long for over 13 yrs (when i became a Full time Markey Guy(trader/hedger.)

My avg for most trades is less than 2 days..For investments it is aboout 6-9 months tops with usuing options, (the core holdings issue can be longer ,as long as 12-15 months using options, until the "Momentium Play is Gone"

YOU are also correct that FA is nothing in this market.

My Advice to you, not saying you should change your style, is to be Very careful and DEFENSIVE at this time..This market  could  Stay this Way for a Really long time..(PS remember the Period from Jun 1969 to Mid 1982) , 12 yrs the DOW traded within 850 pts.. I remember it, was just starting out,happened at the best time for me, Learned many lessons, including (Changing  my STYLE to suit the Market condidtions)..Again I am not saying YOU should do that..But I would Advise Adjusting Your Style  toward the Market  condiditions we have at present , or becoming VERY DEFENSIVE until the market resumes a more Normal Enviroment.

On that point, Don't fall into the trap of  Fearing "missing the upturn"..on that , for your Style (investing) there would be plenty of Gains available AFTER the MARKET makes  a DEF Bottom..cracking the DOW 9653 level at this time that I referred to.

Not being DEFENSIVE, you will be whipsawed and make zippo in my  viiew at Best... At worst the market could  fail and MELTDOWN after the Honneymoon  period for Obama.

You seem to know that and have  a decent Cash Position, the trick is not to commit the Cash until  there is a DEF  Reco Turn, both  from a ,TA and FA View...