On Friday, October 16th, I started getting very serious about shorting the market by commencing the entry of many of the shorts I had lined up. I have continued this effort, and I am in position on 108 items.
I did another complete sweep of all my charts last night (which number over 1,000) to cull my next tranche of shorts for entry. I have 72 more candidates for shorting, and I am deliberating waiting for some kind of mild push higher to begin entering these positions.
If we can get above about 1071 on the /ES, I'll be comfortable commencing entry into these positions. In the meantime, I have one very large bullish position – DIG – which I entered yesterday in order to counterbalance all my shorts in the event of a push higher in the market (which seems to be happening as I am typing this). I'll be exiting that position at about the same time I am moving into my new shorts.
If the market can avoid a huge surge higher, I imagine I'll be in place with about 180 short positions once everything is done.
P.S. By the time I posted this, I was already out of my DIG position! I got out for about a 1.5% profit and am "purely" short again.