Thursday, February 04, 2010
Cartwheeled (still scumbag-short here)
I hate arguing, but I love resolve. No time for comments still, but the market is cartwheeled again. If we close the majors at lower-lows, then long-only investors should be thinking of safety first, in my (scumbag) opinion.
Quickly, internals today are severe-negative - volume is heavy and breadth is running (presently) 5-1 negative on the Nasdaq and 7.7-1 negative on NYSE.
Don't do what I do, but this is a green light to pressure the sell-button, on any flinch-higher, through to the close.
Total Position: ~3.23-to-1 net-short, 77% invested
Currently Long (according to size): TM (9.43%); HUM (7.7%); BEAV (4.9%); MMR (4.1%); CISG (2.4%)
Currently Short: JPM (10.9%); GOOG (9.8%); TWM-long (Russell 2k Dbl-short, 9.4%); GWR (6.9%); MS (5.4%); AAPL (5.1%); CSX (4.9%); DISH (4.8%)
Futures Accounts: Covered NDX Mar future short, 1751.17 average; Reloaded 10% Mar Russell2k short, 595.90
Twittspitt for details