Definitely a change of plans here as the market action has shifted to questionable/negative.
While I took body shots on the CYOU and SNDA pair yesterday, today I had my guard up, unloaded those two early, and then proceeded to hedge and unload countless others following the consumer confidence report.
Not that I see consumer confidence as so key - but it is the market reaction. A negative surprise AND striking a chord in the market is enough for a guy already looking for where to find the sidelines. July is a gentle month for me, as far as the market goes. We'll see if I can't drudge up enough action then elsewhere.
I'm left at the moment with four longs, married to none, stops tight in two and enough SDS to render myself net-short for the time being. I'm not looking to hold short, but today is rather defined, my entry there was decent enough and I don't yet see any reason not to hold the full throat until the end of day.
I'm on the Amalfi coast at moment, but somehow with a better connection than anything else this past week. Good day for it too, since I was quite active.
So ciao ciao for now, I'm heading for water. There's no big game in this particular sea, but at least I can't get too bit. I'll update further trades via Twittwatt, but those should be winding down for the time being. If/when the market pivots and drives higher, I might get involved. But I am only interested in July if it is one-way action. I should be out of SDS by today's close and sell most of the four remaining by endo of the week (which now I know is Thursday ;).
Total Position: 1.40-to-1 net-long (actually plays ~1.40-to-1 net-short, considering 2x's levered SDS), 25% invested
Currently Long (according to size): ARST (4.2%), LFT (3.8%), PEET (3.5%), MRVL (3.5%)
Currently Short (according to size): SDS-long (10.4%; SP500 dbl-short)
(Note: inverse-ETF SDS represent being dbl-short the respective index)
Futures Accounts: no current position