SHORT CKSW $5.44SHORT RT $6.87
SOLD 1/2 UUU.TO $2.89
SOLD 1/2 AEN.TO $1.12
ADDED TO RT and STEC SHORT
SHORT NTES $35.55
SHORT PGI $7.58
Markets looked really negative today, down all across the board except the DOW which closed positive. I think we have some more downside from here and I am NET SHORT here. The Nasdaq, Russell 2000 (US small cap index), and the S&P 500 all broke down out of the rising wedge and ascending trianlges, as well as below the 20 day MA. The next level of support is the 50 day MA.
I've been cutting some of my long positions and being aggressive short, enjoying nice gains in FCS, JACK LXU, RT, and STEC. This has acted as a good hedge against my remaining longs, which I have trimmed down considerably. I will be watching this market closely over the next few days for a reversal, otherwise, I'm shorting this market!!!
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