Defensive Repositioning

By -

I'll do a post after the close, but I wanted to put up something quickly as an update.

+ My profit was highest a few seconds after the opening bell today; the market's rise has been chipping away at it ever since, although I'm still looking at a nice profit.

+ I have no large positions in either direction.

+ I am seeing an interesting number of short-term long plays that I'm entering, but these are defensive only.

+ There is a lot of headline risk this week, which makes me somewhat uncomfortable.

+ The worst thing of all is that all the charts have these enormous multiple gaps in them over the past few days, and it's impossible to say WHICH of those gaps are going to get filled. We've fallen very far, very fast.

I'm leaning somewhat conservative at this point, thus the hedging.