Wednesday, February 25, 2009

Strike That (whip-it good)

Wretched close today (for me included) and potentially ominous for tomorrow.

I ran from the bull as soon as it appeared today, but the bears who held patient today did very well. I whip-sawed profits and frankly, wore out a bit of the blood-lust spirit along the way. This may be a sign that we're in the chop (we certainly were today). And needless to say, that is not the place for a momentum madman to be.

If we're not selling off with distinction tomorrow, I'm backing off and going on that harpooning trip after all. That close was a bear however - so we'll see.

Note from the Tweedfeed >>>. I re-allocated to net-short in the after-mkt, via SKF and SRS.

[Late note added - today's close smacked a bit of the Friday close, Feb. 13th; volume really surged late today following a failure of today's once-promising reversal]

Position: currently 1.4-to-1 net-short...

Currently Short (according to size): SKF-long (Fncl's Dbl-short), SRS-long (Real-Estate Dbl-short), AEM, SGY
(Note: above long inverse-ETF's SKF and SRS represent being dbl-short respective indices)

Currenty long (according to size): ATHN, MYGN, SEPR

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