Pluses and Minuses

Today is one of those days when I initially say to myself, what was I thinking in January.  I got out of short S&P last October at 1070 and reversed to long.  Then we got out of long S&P at 1295 in January and eventually got 40 percent short.  So now we are at 1355 and we are out 60 points.  But then I have to put on the Macro hat and say, it is not so bad, a plus 225 points followed by a minus 60 points times 40 percent.  So now I’m feeling better and will probably take the short S&P to a 100 percent short at 1365 whenever that happens in the next day or two.

 The long dollar / short gold position still looks ok.

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