Watch for Germs

The Feds had better have a fresh goose-the-market plan ready for later today, because this pig doesn't look like it is able to fly.

Nasdaq has already breached last week's lows and the SP500 may not be far behind. Commercial real estate is the ugliest on the tape today and that has been the area of my (short) attacks; added copious SRS (dbl-real estate-short)+ VNO-short. Additionally, I've been reducing longs (AVAV, my largest position coming into the day and for some time, was sold as it broke the 50-day m.a., but I unloaded others as well).

Again, an oversold condition is not a bullish indicator, unless the market is actually rising. If this is what the market looks like in bounce-mode, I'd hate to see it sell-off again.

My weekend bounce-list of longs is downgraded to a watch-list for now. If the market re-gooses back to life later today, I'll adjust, but as of now I am greater than 3-1 net-short.

Currently Short (according to size): SRS-long (comm. real-estate dbl-short), VNO, XEC, AEM, GDX, STRA, SIVB, HST, PNC, SGY

Currenty long (according to size): ATHN, LOPE, HOC (new, pairs w XEC and SGY oil-shorts)