As noted in this tab on May 12, I bought $TZA, $SKF and $SDS to play the short side. I only bought each position in 1/3 size of what I would consider to be a full position. As luck (sort of) would have it, literally since the moment that I bought those inverse ETFs, we have gone straight down 50 $SPX handles. Stairs up, elevator down, to say the least. At this point, I believe it would be a mistake to add to those positions here. The closer we get to the 200 day moving average, just above 1100 and rising, the more inclined I am to take any kind of short exposure off of my books.
Thus, I have sold out of those three ETFs. $TZA at $6.50 (bought at $5.75 as documented in The PPT). $SKF at $20.51 (bought at $18.32 noted in The PPT), and $SDS at $32.89 (bought $30.38, see The PPT).
I have also fully sold out of longer term trades–long $BZ, $SWHC and $VCI.
I am currently in 100% cash, and remain convinced that is the best course of action for now.Twitter