Some Positive Action Today For SPX Bears

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July 1, 2009

SPX got to the 931 level and was rejected. We’ll see tomorrow what happens with the market, but this was a step in the right direction. I sold out of my ETF’s before the runup happened and took the worst loss of 4% in EEV. Gains in SA of 8%, GFI came back, DGP made it back to positive, and I added to my SA position, and bought GRS. I also cut my index shorts around 10:45 which wasn’t a generous price and would have been better to have stayed in, but I saw the move and I did what I should have done.

I rolled back into shorts though as the SPX fell over. This is also what I should be doing.




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