As I'm typing this, the Fed news ("Hey, banks! The money's still free! Come and get it!") is less than an hour away. I've trimmed way back on my positions, and I've gone from all-short to a more even short/long balance. Currently I have:
+ 103 short positions, all of them small (fewer than half of what I started the day with);
+ 4 large long positions (OIH, RTH, FXE, and – Lord forgive me – BP);
+ Stops updated across the board, with a 79.2% portfolio commitment (down from 140%)
I'm going to simply go through my watch lists now as I await the announcement and its spasms.
