I have the sense that trading this market is going to continue to be very challenging in the coming weeks. I continue to be hedged (longs and shorts), which means safer positions overall but dampened moves in either direction. For example, today the market is down pretty hard, and although my portfolio is up, the gains are tremendously muted.
I uncovered many short opportunities this weekend, but twice as many long opportunities. I am focused on the shorts at the moment, since I think the odds of a lurch down into the 700s on the S&P is coming up next, before the big rally. Here are a few sample charts, and I'll be posting more throughout the day.
