While it wasn't a sling-shot reversal-higher from the get-go, the internals so far today do not suggest any daytime reckoning; not on this calendar date at least.
I could have been cute and covered shorts at the open, only to put them on again with the bounce higher, but that is not my particular style. In general, I want the big moves when they occur, so I try instead to just keep firing as things get more extreme (and on the other side, keep adjusting as they go against me). Chop then is not my friend, obviously; but I do fare okay moving quickly when whitewater grabs hold. Then, when executed well, I spear the really big fish when they cruise my path...instead of mere flesh chunks.
It's the big winners that make your year's performance, trust me on that one. And 'tis the big losers that ruin your investment life.
No bold predictions here going forward (but one might consider my Elliott Wave count on the chart below). It does though appear to this trader still, that we are working our way to lower-lows, potentially with a major, if not brief, flush in the near future.
I want to key short still for now (adjusting as necessary), until inflated spores of panic permeate the air. On that day (or couple of days) I want to go from extremely short and bloody to short-free and long Darwinium slingshots showing the greatest survival on the tape.
Today's trades were broadcast within a couple minutes of live via the Tweedfeed >>>
Total Position: currently 3.5-to-1 net-short (80% invested)...
Currently Short (according to size): SKF-long (Fncl's Dbl-short), SRS-long (Real-Estate Dbl-short), AEM, ETN, TMK, NYB
(Note: above long inverse-ETF's SKF and SRS represent being dbl-short respective indices)
Currenty long (according to size): SYT, HOC, IOC