Bears Getting Bludgeoned

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Sigh; July hasn't been kind at all to me or bears in general. I thought we'd get a "sell the news" drop today, but it seems the only "stress" going on right now is for those who are short the market.

I've hedged things somewhat with long positions in FXE and TBT, but I still have many shorts (a few dozen have been stopped out today, for obvious reasons). The 1103 level on the /ES is getting badly threatened.

0723-es

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