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I’m still short (heavy since 8-14-10 close). Today I panicked a little bit and closed out my FXP, FAZ, and EDZ with the morning pop. I also sold VXX as well, but I didn’t tweet it. Losses were all small in FAZ, VXX, and some EDZ positions that were bought late Friday. However, I had profits in EDZ positions that were bought early Friday.

However, shortly after I did that, I went short again by buying TZA heavily and I’ll take you into what I did or how I was seeing things in the moment.

Intraday RUT Chart

Bigger Picture

I currently have no desire to play the long side when the technical picture is as precarious as it is right now.

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