Waiting and Watching…….with Long/Short Update…..Second Update

With our positions drastically peared we are looking for reasons to buy back our positions or sit tight.  As subscribers to the Chartstore.com read this weekend, there are precedent’s for market formations like we have seen over the past 38 days to become much bigger in scope.  Those precedents occurred in 1932 and 1933.  Being mostly out of the market is not necessarily a good thing.  So we are watching for signs that the market is going to break away to further big gains, or have a sell-off here.  It could go either way at the moment but we will stay cautious until something gels here.

The EMA ETF Fund NAV was 1144 at the close Friday.

8:11 AM CDT

Update at 9:35 AM CDT    S&P at 896.50.  Bought some double short ETF’s SDS (short S&P) and DXD (Short Dow) to create a bit of a long / short portfolio at the moment.  Overall leverage dropped to 0.50.

Second Update at 12:55 PM CDT   We continue to lighten up (adding short ETF’s) as the market moves higher, we plan to be totally neutral, equal longs and shorts if the S&P index hits 930. S&P at 899 at the moment.