I am just being mechanical and conservative here and selling out the index longs (TNA & SPY calls) bought Monday on the breakout over S&P 1100 as we fall back below it. Could be a head fake - we never know until after the fact, but we can always re-enter on a bounce back over S&P 1103-1104 or so. For now capital preservation as we view a market that is long overdue to give back some gains.
Losses will be earned on both positions.
See yesterday's post for thoughts on where we could potentially fall to if this move continues.
EDIT 9:40 AM - threw on a bit of a short TNA position just to hedge the portfolio a bit.
Short TNA in fund; no personal position