I've got to say, I'm surprised at the market's action today. Although I covered a large number of shorts on Friday (taking my commitment from 90% to 50%), I at least didn't go hog-wild buying into the frenzied action late in the day, which turned out to be strictly a sucker's rally. My one long – SLV – I sold today at a small loss, and nothing has gotten any traction today. I've modestly increased my short commitment up to 60% of my portfolio (no longs of any kind). It's kind of a quiet/grind-y day, so take a moment to enjoy Orson Welles.
