Wednesday, May 20, 2009

even Quicker

Volume is not major, but we've put in a notable, legitimate distribution day and the market direction/trend is either reversing down or else flat-and-boring; we'll see.

I've adjusted a great deal today, letting go several longs and adding multiple shorts.

-Still long CYOU, ASIA, SNDA, LIHR and PEET for now
-Now short STRA, NTRS, CAL, NDAQ, BKE (reports in the AM), MDT, FULT, SKYW, CNO and I'm heavy-enough into double-inverse, deathshort etf's SKF and SDS.

Currently 2.51-to-1 net short (plays 3.15 net-short given leveraged short-etf's SKF and SDS); 69% invested

Note on Euro and BR Pound - while I did well enough shifting on the equity side I did get pounded short currencies in futures accounts today. Will be placing stops around today's highs going forward, but stops are mental now for the evening. Admittedly, these were not the best trades; dollar may bounce now, but doghouse rather confirmed there.

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