Went Heavy Short Early This Morning

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July 28, 2008

I added to my shorts this morning early on and so far its paying off. I went in heavily with the usual suspects of TWM and QID. My GG calls are up 22% right now as well. I sold my GLD though this morning thinking we weren’t going to get a market selloff. Took a less than 1% loss there.

This morning’s fake out provided excellent entries into the double beta inverse etfs.

*I never hit the publish button, but its now 2:49 pm est and market has sold off even more. Dow down 200 pts, NDX pushing 4% and RUT as well. WOOOO!
I’ve sold my GG calls, but still have GG common and considering getting rid of it as well. 16% gains were taken on the GG calls.


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