Well, this morning was the final straw for me. Everything was looking ship-shape for a nice tumble today, and then ol' Ben came out and said whatever he needed to say to crash the dollar and goose equities again. The GDX, shown below on a minute bar chart, nicely expresses how a very clean breakdown was turned around 180 degrees.
I have gone long sixteen carefully-chosen equities. I am still keeping a big chunk of my portfolio in cash (a little over 50% right now), and I've got a 30/70 split between long/short. So, effectively, I'm only 20% short the market.
In any case, I cannot depend on the market going down in order to turn any sort of profit, so I've got a hybrid portfolio again. The cleanness of the NASDAQ breakout is simply too evident in order to not have a single long position.