Market’s UP Move – Since Friday

Based on move in May I was quite sold to the idea that Markets are about to tumble very soon. However based on the kind of accumulation we saw on Friday afternoon, it seems the short side is a short-sighted strategy for now. The Anti-USD movement of capital may be causing another round of accumulation of stocks, gold, etc. and thus the market’s upside movemt nmay continue som more.. Dow hitting 9100 and SP500 hitting 950 won’t be surprising.

So what did we do with our positions in QID, SRS, SDS. For now we’re still holding the bag aof losses in these. Although the market reversal from recent ~40% gain on indices is imminent, but it seems that this is going to take some time. But certainly The Big Money knows something that allthis new upside buying has started.

We’re actively watching the action, to see if we should cover out of our Inverse ETF positions, or stick in while waiting for the eventual move to downside.

Enjoy this tough stomach wrenching game.