We’re approaching the 50dma where we could get slapped back down. Since my market timing graph is extremely bearish I opted to take a few short positions in some etfs. I never would have covered my positions last week except the move down was so furious I felt like some type of snap back rally was all but inevitable, and sure enough, monday was just that. My thinking going forward is to layer back in today, and as long as my system is bearish, I’ll add on any more intraday up moves.
