Monday, November 17, 2008

Raised cash

  1. Sold some MOS and MOO today to raise cash, also sold all SSO calls(small positions).
  2. We're on a critical support, at 850. We may start a new leg down. That's the reason I sold these positions. I'll add when there is another bloody crash, like the one on Oct.10th. If market rallies, then I'll use the chance to unload other positions.
  3. It's not a bottom, it doesn't feel like it's Oct.10th or Nov.13th. This time, it feels different. When in doubt, get out. Let's see if it plays out correctly this time.
  4. I'll use double or even triple ETFs if I think it's a true bottom.
  5. I know this is not the bottom when two ultrashort ETFs are less than 50% of their highs, EEV and FXP. I think when true bottom hits, these two will be near the high.
  6. Actually now it's time to add some small short ETFs to balance the overweight long positions.

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