I don't have a great deal to say at the moment. We're going to try selling off today, but it remains to be seen if the market is ready yet to give up the recent gains in any meaningful way. I wouldn't be buying here, but I wouldn't be getting crazy shorting either.
I'm thinking about going fishing again.
Next week might bring some fireworks. I still view the recent rally as being consistent with bear-market-rally action and next week is an option-expiration event; so if it is acting poorly again then, I will hammerhead short with both heads. Until then I might be quiet, looking to reduce exposure and getting ready for anything. If it keeps volatile however, I'll be clocked in.
Regarding my MarketGuru account, I concluded my manipulation experiment there this morning by blowing out the averaged-down SKF position on the first rush higher (just concluded). It remains disappointing to discover how easy it was to sweep a terrible day under the rug (chronicled last night). From here I will continue with my position as it was (prior to jamming $11M worth of SKF). I'm not interested in scamming that account to look better than I should (and for the record this SKF jam yesterday was the first and last ploy). Unfortunately, I think I'm not interested to continue there at all; unless/until that site addresses and patches the flaws.
If someone else reading this in interested in becoming the next top-1% superstar on MG, however, then just keep averaging down my man - you'll eventually get that stock sold higher and you2 will be a star. What a joke.
Total Position: currently 3.98-to-1 net short, (70% invested)
Currently Long (according to size): HMSY, SNDA, ARST
Currently Short (according to size): SRS-long (Real-Estate Dbl-short), AAPL, BWA, POT, ALV, V, GTIV, ELOS, ATHN, BAC
(Note: above long inverse-ETF SRS represents being dbl-short the respective index)
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