Covered on weakness…
We covered our short positions into this mornings selling, and now stocks have returned to unchanged. We had some positive indications from the Oil sector from our XLE Technometer, as well as in the Real Estate sector from our VNQ technometer. Because of that we took the opportunity to cover our shorts and stand aside.
We think we will be entering short positions here again in a few days on further rally.
Bonds have fallen quite abit from this mornings highs. We will look to reestablish longs there as well in a few days.