Didn't expect today's 100 pt. rally to last. That being said I wasn't really expecting a 200 pt. drop from the highs by lunchtime either. I did add to my short exposure before the drop but I remain somewhat underexposed. So it's a good day so far but not great.
The freshly initiated short positions in BHP and EOG appear to be working quite nicely and GLD has come roaring back. My hunch was to add to my GLD position but I did not since it's already pretty chunky. This mornings weakness in the metals may have been a buying opportunity but I don't have a lot of conviction either way in the short term.
I did though add to my TOL short. This may have been the break I've been waiting for.
Put a fork in it.
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