I've tilted more and more bearish today, particularly with respect to precious metals. Yesterday (Sunday) I went from being long 16 ES contracts to being short 14 ES contracts, and that was a good move. Although I had a stop set at 933, my FF (Funny Feeling) Indicator told me that there would probably be a failed breakout, so I removed the stop. That, also, was the right move.
The overarching theme to my trading is that the bear market will resume in a big way. I am not sure the rally back to the 930s was the extent of the move, which is why I still have many long positions. This kind of market demands a hybrid portfolio, so I currently am long 80 positions, short 57 positions, and long 57 options (all of them puts).
One last thing to keep in mind is that sometimes a "long" position is still bearish, such as my large positions in SRS and DUG, both of them ultrashorts.
