I've spent most of the day doing two things:
(1) Taking profits by covering many shorts;
(2) Tightening up stops
I've reduced my exposure from about 200 positions to a mere (!) 134. I've changed my "bull/bear" ratio from -1 (pure shorts) to -0.36591 (some longs – – a +1 would be purely bullish).
My biggest long is FXE; I think the Euro's in for a bounce. I've also bought USO and TBT.
I've also reduced my overall portfolio commitment from 150% of cash to 83%.
In short, I've pulled back on the reigns and am going to wait for better prices to get aggressive on the short side again.
