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Being Short. I was short with the big bucks today and it paid off.

The index funds gained a little better than 2%. The QID positions gained a little less at about 1.89%. Still holding all those shorts.

As far as stock trades. Not much action today.

I got into URME, NAPS, & CRIS.

URME – The reason I got into URME was because it wasn’t up while URRE was up another 6% today ARGH! I also think the daily chart pattern on URME looks better. It looks like a popper to me.

NAPS – Well it made my list last week. The weekly chart and daily charts look bullish.

CRIS – Looks like CRIS is going to to test 1.77 which dates back to last November. However, the weekly ma(90), is at 2.15. I think thats the real test once it cracks 1.77.

No matter what I think we have to wait till the market bottoms out and that could come as soon as tomorrow afternoon or Thursday and setup Friday as a great entry for next week. We’ll see how it turns out. Either way I don’t think the near term market selloff will be very deep. If the NDX, COMPX, and R2K start to trade into their Feb 27th gaps, then that will likely bring in some short covering.

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