Third Reversal in as Many Days

on September 25 2009 12:18 PM

Hmmm... third day in a row buyers have been scorched... post Fed announcement Wed afternoon, yesterday morning, and this morning. Have to turn to the dark side - doesn't look good for bulls right now.

In my morning piece I edited it to reflect the fact I quickly dumped the calls once the market went back into the red. I've just dumped the levered ETF long.

I guess we're back to the put side... ;) If S&P 1040 breaks we're going to layer on more short exposure and see if we can incite some panic by bulls. Thank you market for providing a non siesta day.

I'm flip flopping more today than John Kerry circa 2004.

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