Strike That (re-illuminate long)

What doesn't kill you only makes you stronger, right?

Bears can't be happy.

The market did gap-lower but demand has since Mobbed sellers. As the major's cannot break down, then we should either chop sideways or else revert higher. I prefer chopping, whereby leadership stocks work quietly higher under an otherwise quiet surface. But if she wants to burn it up instead I won't get nasty (though I will let some of the air out on any emotional blast higher.

I backed-off from (brief) hedging and am back to fully-bloated long (aggressive growth leadership). For the moment I still have half of the JPM short (from yesterday's close), but it is now paired with GS long. Other than that I have RSH and a small amount of EGO short (the latter is no hedge, just a Cramer double-promo fade; hopefully for the ages).

My FMER Cramer-fade from last night was a scalp in the end. I took profits as soon as it was clear the world wasn't going to end again. I still love you though Cramer. And thanks for the tips on buying CELG (for the last few months!). I'm sorry I didn't take that one seriously.

That's the dope on my shorts. But it is the (many) longs that are far more interesting; to this fish at least. I know these names don't appeal to you, that's Okay. I'm just going to sit here quietly and make some money while you guys find better things to do. I've got enough over-roasted coffee to last all week. I can piss in canteens if need be and I just peel-off whale jerky on an as-needed basis.

Yep, the action should get quiet now methinks. I'm thinking nap-time in fact.

The sweat shop then may closed for me today - I'm in monitor mode. I'll spitTwitt changes from here out, but again don't do anything I do (at least not because of anything I have said). Watch a mad-trader blow-up with too many longs for fun and informational porpoises only.

I'm a bloody mutual fund here at the moment. Good trading.

Total Position: 7.85-to-1 net long, 96% invested

Currently Long (according to size): MYGN, NFLX, ARST, RJI, PMCS, MNRO, WNR, SNDA, LFT, NVLS, CHKP, GS, FORM (new), TNDM, TSYS, DRI, IOC

Currently Short (according to size): RSH, JPM, EGO

Copyright LLBAG, 2009 - Locked Loaded and Bloated Aggressive Growth Fund, LTD

Quicknote (slight darkward shift)

I shifted away from my aggressive-long stance and into the general direction of neutral, ahead of the final trading hour and increasingly so into today's negative close.

Gone for now are GS and TSYS longs. New shorts included a healthy degree of JPM (7%), RSH (4.6%) and...

After the close I was able to grab another financial short, new Cramer-promo FMER (5% position); complete with a 4% premium to the closing price.

Praise be Cramer.

Futures are selling some tonight, as GM is apparently going goose eggs. Tomorrow will be interesting. I have a little protection now - if the market can't regain any strength within the first 90 minutes I'm returning to the dark side. Otherwise I'm content to let go of the new hedges and roll long with the in-crowd yet some more.

Worst case for me, financials rock higher while growth names get nailed early. That would start my new quarter off wrong.

Pimp my Twitt for all the finer details >>>

Total Position: 4-to-1 net long, 93% invested

Currently Long (according to size): MYGN, NFLX, ARST, RJI, MNRO, PMCS, WNR, SNDA, CHKP, NVLS, LFT, TNDM, DRI, IOC

Currently Short (according to size): JPM, FMER, RSH, EGO