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I never know the magnitude, only the direction. So being short for the past 3 days and covering up the last of my positions yesterday, although a mistake due to jumping off the signals, I’m more than happy about being about 99% in cash today. Was it a mistake to sell my EUO calls, EWZ …

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As predicted we had another down day. I covered my FXP, EPV, EUO calls, and BZQ. All ETFs for greater than 10% gains, and the EUO calls earned 49%. These were all pretty much 2-3 day trades. Now that the market got a little overcooked to the downside, I took some small long positions. PAL …

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The best thing I ever did in the last 3 days was not panic out of my short thesis. I kept the 2x NDX/RUT shorts from yesterday (heavy 100%) collecting 6% in each index. Haven’t seen a move like this in quite awhile. I was also long EWZ puts, long POT puts, long EPV, long …

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Two sectors working right now are Guns and Gold. Is it a coincidence with the market taking a 1 day hit that killed the uptrend line, closed below some 21d ema’s, looming financial regulation, European debt rating downgrades, and with the European issues bubbling up? No. There are no coincidences. Only what is. I’ve been …

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Sold my FAZ and EURO short via EUO this morning, but I’m going back into them both. I don’t believe this gap fade. Also bought ERY this morning, but ended up quickly selling for .06 loss. Check out XOM.

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