On Tuesday – marvelous Tuesday – I did this post which speculated that the Russell would fight its way back to as high as 810 or so. We've completed the first step, closing the gap. I'm not sure if the index will complete the journey to 810 or weaken here, but I have augmented my existing shorts with some new positions at present levels. I remain only 65% committed and have a long on XME as a hedge.
