Tuesday dealt a step back here and in the end I was forced to back-off; shift towards defensive.
At the same time I am pleased with the re-risen chorus of warnings (over the market's fresh technical breach!), coincident with the still-juicy charts, of still too many names, atop a still too-low number of 52-week lows, and a general still-born faith we'll (James) garner any economic prowess any time soon.
If my read on this is right (and if not the lovely image below is backwards from my face), then prices and calendar dates should find a way to march leadership higher (again!), before these warnings find merit.
The chorus should be one of hope and promise before serious thrashings prevail again. Not that it's always the case, but again: when the long-only crowd is afraid to play, coincident with so many strong stocks on the tape, those leading stocks (if not all boats) should work their way higher, through all the resounding drama and chaos, until long-only loggerheads start searching the party for a clean cup.
Follow Centrifugal to fade trades in real time.
Total Position: Currently ~1.84-to-1 net-long; 79% invested
Currently Long (according to size): CRM (11.4%); NFLX (increased today, 10.9%); EWS-Singapore (6.8%); SWN (6.2%); CISG (5%), AVGO (reduced today, 3.6%); ULTA (4.7%); CAVM (4.3%); LOGM (3.6%)
Currently Short: SDS-long (S&P500-short, reloaded today, 13.7%); DTV (4.9%); APOL (4.1%)
Note: Inverse ETF currently weighted @1.6 x's
Futures: no current position