U.S. stocks plunged on Monday in the heaviest volume since last year's "flash crash," taking the S&P 500 down more than 6 percent on growing fears of a recession, in the first session after the historic loss of the country's pristine triple-A credit rating.

Panicked selling resulted in the S&P 500's worst day since December 2008, with every stock in the benchmark index ending in negative territory.

The Dow Jones industrial average lost 634.76 points, or 5.55 percent, to end at 10,809.85. The Standard & Poor's 500 Index sank 79.92 points, or 6.66 percent, to finish at 1,119.46. The Nasdaq Composite Index plunged 174.72 points, or 6.90 percent, to close at 2,357.69. (commentary & photo courtesy of Reuters)

The RSI portfolio took a hit today, but nowhere close to the overall downdraft experienced by the markets due to its high cash position. However its position in the small cap fund IJS got clobbered by a –8.5% hit. Ouch! It the carnage extends into tomorrow and beyond I expect it will hit its stop loss level.

There were no RSI picks today … thankfully.