Tuesday, March 22, 2011

Hold - Confirmed

355pm: The official signal is to continue holding a short position in TNA (or long in TZA).  I'm in short at TNA 79. 

1230p: Even though I'm short right now (60% short, 40% cash) I'm actually feeling quite bullish.  That's probably normal after such a huge up-day yesterday.

My instincts are almost always wrong anyway so being short is probably the right trade.  Still I was hoping for a buy signal today so I could act on these feelings.  Looks like I'm not going to get it.  If anything we may see another "sell" signal today. 

I'm 50% long, 50% cash in my retirement account, so if my bullish intuition turns out to be correct, at least I'll make some money somewhere.

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