Covered Some Shorts

I covered the SPY short I put on yesterday. I am now moderately net short. It usually does not augur well for the market when it is this weak for no apparent reason. That usually means we will find out a reason shortly. However, in recent weeks it has paid to take profits first and ask questions later.

3 comments:

nicasurfer said...

It looks like Goldman cut euro banks to nuetral.

Tsachy Mishal said...

Industrial production numbers came in lower than expected for Germany and UK as well. Still seems like theres something bigger.

Chaos! said...

Dubai developer confirmed default.