Aug 19th 2009
8:21 am Despite a small market bounce yesterday, big-picture I'm still looking at a short market unless the COMPQ recovers 1960. So far the futures are down this morning, so I'll be looking to a) tighten in trailing stops on all open overnight/swing trading longs and b) looking to buy the short ETFs (SDS FAZ ERY) if they take out new highs, if the market sells off.

Update: market did recover the 1960; we'll see where it goes tomorrow. Took a total of -$26 net loss today; main goal was to lighten up positions and move more to cash-heavy vs all equities, since I'm still skeptical of the market moving up, unless it holds over the 1960. My active trading IB account is now 35% cash (during uptrending markets I keep it virtually all-in stocks; now I'm 35% cash, with close trailing stops on other opens, to preserve capital).



-k