I've been using the seasonal strength today to cut exposure; I let go the (QID) hedge as things started to stabilize last week.
My strategy in the near term is to hang-out mostly in cash while the market starts to show its summer colors. I'm going to guess that the action will remain mostly positive in the short run, however I'm not going to play very hard until this (or something weaker) is confirmed.
Summer has a way of trending, one way or another, in its lackluster, low-volume fashion. Let's see how things take shape this week (at least) before committing one way or another.
Current portfolio (by size, all longs): TITN, CRZO, COH, JASO, TTES