Well I went big to the short side today, but not a full position. I think either tomorrow or Wednesday we could see a strong morning move that pushes up then sells off HARD. I want to be in before this happens and use free cash to add to the shorts in case we see a little more up.

I went short in the Rydex 2x funds, long QID, and long TWM. For those that don’t know, those are ETF’s that are inverse the performance of the NDX/QQQQ and Russell 2000.

I did not buy puts, however, thats part of the plan if we see an upmove tomorrow.

If you like this post, check these out too

• September 10, 2007 -- What Worked Today 9102007
• September 24, 2007 -- Inverse ETF’s, Mutual Funds
• February 23, 2007 -- Nasdaq Feeling Heavy So I Shorted It
• September 6, 2007 -- Added To Shorts

Thanks for reading

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