Risks remain high staying short

Wow what a week through Thanksgiving! I made more money that week than I did all year long. I sold at the top on Friday and went all cash. However, I think all dips can be traded from the long side as we are waaaaaaaaaaaaaaaay overdue for an intermediate term rally.

The market loves Obama
The market is in a lot of cash
Xmas season is a reason to buy

Be carefull on the short side....institutions are not hedging short at a lower level, they are buying.
Year end pension/401k contributions should offset any tax loss selling.

Only use short sells intraday.

B

XME again...still testing

XME...for you Z...chart testing

double bottom....going to $38 test of 50 day. 200 day would be even better...doubt it though

THE MARKET

We are at the bottom of the trading range as I type this. You have two choices when trading anything other than an intraday time frame:

1. Go LONG with a stop just below last Thursdays lows.
2. Go SHORT and hope for the disaster that seems to be coming.

2 poses more risk than 1

Market Looks Ready

To those of you looking for a swing long, I think now is the time. Traderbean says AAPL is ready and I very much concur with his analysis. I'm expecting 995 to 1150 on the S&P on this rally, it might take two months though.

Directionless

The markets are directionless and rightfully so. Credit market bubble pops, housing market collapses, election around the corner, and not to mention 3rd quarter corporate earnings. There are three things you should be doing.

1. Paying off all debts if you haven't already. This includes your mortgage. You will never have access to credit like you have in the past. Zero down on a home? Never to be seen again. This will collapse housing prices and the credit markets will take years to heal.

2. Buy for the long run, selective Buffett type stocks--stocks you can hold for 5 years or more.

3. If you choose to trade (which is dangerous in this directionless market), keep your trades intraday.

Stocks you can hold for the long run:

UNG
FCX
AAPL
BNI
GS
WFC
BRKA, BRKB
LNC
PBW
V
VWO

HOW TO PLAY THE MARKET UNTIL THE ELECTION

Things are likely to remain volatile until Congress acts on this bail out plan. No matter how they act, things are still bad. This financial crises is ugly and people are getting hurt in money markets, bonds, and other (safe investments). Sound like 1930s?
Congress WILL act in some fashion. But that doesn't save the stock market. We need to expect a long term recession if not depression.

So, today is Wed. the 25th of September. I'm going long next Monday the 29th or Tuesday the 30th. Stocks I'm looking at: GS, BAC, AAPL, RIMM, and other Tech and/or big financials. I'm going to sell in or around Yom Kippur that week of October 6th. I'm expecting an absolute bloodbath after that to end October as election volatility sets in.
1. People will want to take long term capital gains prior to the election AND prior to the end of the year.
2. The election also gives reason to take tax loss selling earlier than normal.
3. A "Bail out" plan will not save the economy and/or corporate profits...we will need to run a recession course.
4. People are still pulling out their money from the market to help pay for their homes and the cost of rising food prices.
5. Institutions are not buying into the stock market yet (how can they?). When they begin to buy, we can begin to look for a bottom. But, folks, this is a ways off.

Goog luck.

If you have questions or want clarity please email me: tenyeartrader@yahoo.com

September 17th-- Probably time to go long

FNM, FRE, BSC, LEH, MER, and AIG are all gone. Who might be next? WB, WM, and MS seem prime to disapear in some fashion.

Winter is around the corner and so is the election. Are you going to be caught short? It is time to buy Tech, Commodities, and Multicaps with low international exposure (low strong dollar risk). Stocks to consider buying:

FCX
UNG
RSX
USO
DIG
VMI
DBA
XME
GLD
SLV
JASO
WFR
SPWR

DIG, UNG, ENERGY, COMMODITIES

What are institutions doing (ya know, the big money)? They are betting the price of oil is going to go higher. We can see this through several indicators. They sell stocks when oil prices drop and reduce selling when oil prices rise. Why do you suppose they do this? I'll let you think for yourself. A good conclusion has to do with Energy being the leader in our economy.

Pull up a weekly on DIG, UNG, or any energy related ETF. Take DIG: Worst case scenerio we are going to form a right shoulder on DIG. By DIG now even though it might hit $70s again-- walk away from your computer and watch it break above $95 in a month. UNG is crazy! Buy it now and double your money through the winter!!!

Back from vacation

I see my FCX buy order was filled at $76 yesterday. Dam, I really hate to sell it this soon, but $10 bucks!!! I'm out of FCX again...bummer cuz I really like it. Maybe we can get it at $82 again. In and out of JASO for a $1, in and out of POT for $2, looking at AUY again.

AUY
DIG
UNG
UNG
UNG
PCU
AUY
SKF

SPY target 132. Can we get there? Wow that would be a huge push!

Failed Moves

The general markets are showing us failed moves up and down. Traders with a higher risk should consider initiating long positions for the short term. Positions I'm eye balling:

DIG
SPWR
IWM
UNG
FCX
GOOG

I expect DIG to pull back to the $86 ish area. I wanted in at $78 and never got it. Pull the trigger at $86 if you can get it either today or tomorrow.

Very neutral market... my view on energy

Looks like a very neutral market...big down day yesterday, big rally underway today. Personally I think the pullback in the energy and commodity sectors is a great opportunity to buy. Financials and Homebuilders still have a long road to recovery AND the dollar will continue its decline. Long term, you should be buying energy and commodity issues. Short term its anyone's guess as to what the market is doing. Watch DIG, I like it in the high $70s if we can get it. UNG is reversing today...it might be setting up for a nice swing long position. I have LVS puts going into earnings tomorrow. If the stock stays strong through tomorrow ahead of the call tomorrow night, I will need to buy some stock as a hedge

Score 2 in a row for the bulls!!!! Good job guys

Today should end on a positive note...45minutes to go as I right. I was in and out of several issues today including USO, FCX, DUG, FXP, GS, and EBAY. 4 for profits and 2 for losses. Bought some August GOOG calls. And bought some UNG for the long haul. I see no reason to hold trades overnight unless you are holding short oil or long financials (since u would be playing with the 'houses money' at this point).

I think this is a major opportunity to get long some commodities on this pullback. I'm going to wait until Monday or Tuesday of next week to revisit these trades. FCX under $98! lol!

Moving the last 3 days

I've been moving across town (moving up that is) so I've been absent from trading. A very nice rally spurred today by Wells Fargo. The question is, "will it continue?". I suspect the financials will give us a mixed bag this quarter and selling pressure will probably remain as folks pull out $$ to pay off debt and their houses. The $$ they are pulling is primarily going to come from commodities and this will give us a very nice entry point. I'm not sure when that point will be but I'm confident it will be before the election. 1250-1260 on the S&P is the spot to watch. If we make it through that then 1310-1330 may come fast.

I see no reason to keep trades overnight yet unless you are going to swing a commodity stock like FCX, MON, or POT. But I'd just let them come down.

Cash is king

People buying U.S. equities are mere speculators at this point. What is the reason to buy? The only answer I find is because equities are cheaper than they have been (bottom picking). If this is the bottom and you are buying, then congrats to you! I see no catalysts to drive stocks higher. Institutions won't be buying until next year...some may enter this fall depending on how much damage Obama will do to the markets.

I'm keeping trades intraday as usual primarily on the short side. I really like natural gas for the long term.

One day rally?

Today we will see if U.S. equities can put it together for two days in a row. I'm skeptical. After all, not much has changed other than cheaper equities. I actually think it is a good time to buy commodities on the dip (NOTHING HAS CHANGED). Consider the dip:

MON
POT
FCX
XME
GLD
DE
ATI
KOL
XTO
UNG
USO

Also, watch FXI/FXP. FXI is touching its upper trend line (intermediate term). FXP might be worth a trade going into tomorrow if equities can't hold.

Guessing bottoms is impossible-- don't do it

Volatility is picking up and therefore we are nearing a near term bottom. Nevertheless, this is a very difficult market. I think traders will stick with what works for the time being = sell everything except oil, ag, and pm trades.
I'm Long
DDM
FXP
SRS
USO

Update

Trades today:

I sold AU this morning...probably prematurely but I'm up $2/share on a nice bottom scalp.
Bought MON yesterday around $128 and sold this morning just over $134.
Sold some of my FCX at $118.20.

Markets remain weak as the financials were looking for an "all clear" sound from the Fed. They DID NOT get it. Fed did not raise rates. Therefore, we are probably looking at a continuation of what has been happening for the past 9 months= sell financials, cyclicals, retail and buy oil, ag, pms. Remember: in a bear market try to keep your trades quick intraday if possible.

KEEP an eye on the pharmas! pull up a weekly of PPH! This is a defensive play and typically a good one when the Dems look to take over office! Back to $77-80 by January is possible.

Finally able to log in....summer duldrums

The summer duldrums are now in place. Oil is coming down off of its highs and what was once the leadership is now weighing on the general market. As a result traders will shift into Financials, cyclicals, and tech. The big insititutions will keep their 50% cash or so not buying into his market. I can't blame them, why should we buy now for the long run? The next few months will probably be boring.

looking at the following:

long WFR
holding FMCN
holding OMG
holding DUG
holding PBW
holding PPCO
holding PID
FCX, DBA, POT, XME, and AUY will come down and I will be looking to scalp near supports.

Breakouts

Covered POT yesterday at $198.60. Looks like its breaking out today. phew.
sold the remainder of KONG today at $5.10. It ran up way too fast and I'm not going to gamble through earnings. Still holding DUG.

I'm looking to long POT now.
NTES, SINA, PCLN and SMN are looking ripe.

I will not short until next week. Mkt. is strong this week with options tomorrow.

update

added more to the POT short at $203.25. I will cover at $204.10 for a stop on this.

lets see how it plays out. Stocks are very strong today so this might not work out.

I had to sell a few thousands shares of KONG at $4.80 because I had 8% profits. I'm still holding a lot of KONG and still holding DUG

Ags Commodities will pull back

Added to POT short at $201.20
sold SMN at $29.25
holding KONG
holding DUG

I think oil is done moving higher for a while (meaning until about July 1st). I think the rest of the ag and commods will follow.

lets see what happens

Institutions still holding 45% cash

Those are the facts and they are also going to continue holding that cash through the summer. Be prepared for sideways action for sometime to come.

I'm short POT
long DUG
long KONG
long SMN

My stop in POT is $204.10. It is having a lot of trouble trying to clear $200. I'd like to see $170 on the next leg down. I think oil will pull back, hopefully this week. KONG is an earnings play and a long play on the weekly indicators. SMN is a technical overnight play.

Back from out of town...new positions

Nibbled at FCX today for $1/share gain. Sold SRS for a $2/share gain. Bought SPF at $4.20. Holding HOKU at $8.15 Bought NYX at $72.

Markets look like they are heading higher. S&P looks like its heading to 1440.

NYX is a screaming buy here. Not much standing in its way from today and $80 The 200 day is around $74.20 I think. check that. That may pose some resistance. But by summer this is at $80 or better.

Slow Monday, Lots of Economic data this week

Yawner today. I got back in SRS at $81.50. I think the mkts are a little extended here. The Fed releases their policy statement Wed. I'd say they are going to leave rates unchanged and will start addressing the inflation problem. At this point, it seems they are late to the party to cut further and if they did they would be risking further inflation. I don't think the markets are going to like the news this week and I would say that by Friday (Monday at the latest) this bear mkt. rally will be about done.
May through August is historically not the time to be long-- there just isn't much to move the markets higher, especially this year. I think the bears are going to use this to their advantage and really put the hurt on the bulls through most of May. True, its an election year, but I don't see any of them as good news for the stock market. Perhaps by August we will be done with the discounting to see a little year end rally. We will know then.

As for the rest of the week: I'm going to be out of town until next weekend. I'm going to be checking in periodically to see what my positions are doing and to see if I need to add anything. For the most part I'm just setting up for the next leg down and I'm assuming that we still have not seen the worst. What I fear most right now for the U.S. is a major terrorist attack. They like to strike when our economy is most vulnerable-- and I really hope that we don't see one.

best,
B

sold SRS at $83.33

thinking about V

New positions

AAPL decided to run after the morning. I try not to look back at trades because thats what they are-- trades. AAPL is a great long term hold and noboday can dispute it.

small position in HOKU at $8.25
small position in SPF at $5.25
overnight trade in SRS at $82

We all need to be careful on the short side since indices and many stocks are breaking out.

take care

sold AAPL at $164.60 for $3.45/share gain

FCX wants to go lower, be patient.

Ags/Commods rolling over.

1370 S&P needs to hold.

Crazy AAPL with great earnings

Well we found out today that there is no recession at AAPL. I'm probably going to sell my protection puts because I just don't see AAPL falling much if at all. The general indices have broken out and because of that I'm anticipating a broad mkt move higher into the start of May. This will help AAPL hold. So, as for my other half of the position, I'm going to see what tomorrow brings. I may blow out of it for a small gain or hang on for further upside.

FCX performed just as planned today. However, I'm targeting the $110 to $108 area for entry. FCX loves to sell off after earnings, and the best part of it is that it loves to recover fast.

thats all for now.

AAPL update Wed.

The last three days AAPL has traded between $158 and $168. As I write, we are right in between at $163.

I bought some puts for protection clear down at the $145 level. It will take a clear miss to move this stock down substantially. We may see very little change after hours. This is still a net long proposition for me. Should the stock move south without going under $145 before expiration, it will be a small loss for me.

good luck

AAPL update

Well, AAPL had a nice run Monday closing around the HOD. My target to unload was $170-$172. I didn't expect this big of a run on Monday so I closed out half of my position at $168. Obviously there was a reason for this run and I believe it is two fold. #1 a technical breakout. #2 earnings are going to be good. Anytime I can get that run in one day I'm taking profits and thats all there is to it.

So I still have half of my position which I'm comfortable holding through earnings. I'm still up about $2/share. (Some analyst had the balls to downgrade them two days before earnings so AAPL gave back about 4% Tuesday).

The rest of my premises still hold true. Should AAPL fall tomorrow to around $151 or better, I will buy more and in addition will buy puts at the $140 mark. If we trade between $151 and $170 (which will probably happen) I'm just going to sit on this position.

I'm also watching closely FCX earnings in the morning. They usually report fantastic results but the stock always gets killed. If thats the case, I'll be looking for a scalp early on.

Not so boring after all...AAPL, AAPL, AAPL

Okay, I didn't make many posts Wed. through Friday because I was really busy not only with trading but I'm looking at new cars to buy as well.
Buyers stepped up and we blew right through resistance in, i think, all of the indices. My trades have been quick and remain intraday. After all, the primary trend is still down. Everytime buyers step up and we move higher, I take profits fearing any potential downward pressure. Wed. through Friday I made quick profits by going long LAYN, FCX, CLF, and KLAC. Now, my eyes are on AAPL. I'm holding a small position right at $160. After the great news from INTC, IBM, and GOOG I felt that the $160 break would run AAPL to $172. Well, we didn't get there yet, but I think it may happen even before earnings come out. The only long position I'm concentrating on now is AAPL. We are flirting with 12900 on the Dow and that makes me even more nervous about downside risk. If AAPL hits $172 prior to earnings, well, thats probably going to be enough for me and I'll take profits. If it comes in prior to earnings, I may add more shares and hold through earnings-- with protection using puts. I'm expecting nothing but good news out of AAPL this week. To me, the trade in AAPL will be in the 3 days running up to earnings. If AAPL happens to trade below $160 going into earnings I may hold off buying more until the day of earnings. We will see how this plays out. I'm not expecting many other trades this week unless it is on the short side.

1. Long AAPL at $160.
2. If it closes near $160 on Monday, I'll add more.
3. If it runs higher from $161 on good volume I will not add.
4. If it breaks back below $160 I will not add until $151 or Wednesday, whichever comes first.

If you missed the trade in GOOG or INTC, this could be your last big opportunity in a large player before the summer slump.

good luck

Bo

Lack of updates...nothing going on.

I got stopped out of TSO and DUG yesterday for small losses. I was due. I saw the news on PBR and therefore refocused my attention on HES. HES was flirting for a breakout close so I bought at the close just under $101. I sold this morning at $104.40. Right now I'm 100% cash. The markets to me feel like a calm before the storm. I'm talking about a complete capitulation to around 10800 or worse in the DOW. But everytime we run at 12200 some buyers step up. I see we are green again in the indices.

My gut says that the big boys are going to hold through earnings season and then dump everything shortly after sometime in May. This will result in a very slow and boring summer in the markets. Buyers would then return in August.

We will see how it plays out. This is really boring right now.

Crazy Mkt.

Still holding DUG. Bought and sold additional shares around the core today as well, for 50 cent/share gains. Also bought a bunch of TSO at $27.45. Sold a third of that position at $27.95.
My current portfolio:

20% DUG
40% TSO
40% Cash

This is quite aggressive, especially given that this is truly dependent on oil. I think that if oil comes in TSO will move higher. Refiners are moving bigtime.

Mid morning Thursday

Haven't posted much this week because I haven't traded much. Very tough to tell if we are just pulling back real quick for even a greater rise, or if we are beginning another leg down. I'm still holding DUG. I almost increase my position yesterday after the inventory #s were released because DUG took a big hit. After it finished green yesterday, it looks to me like it is forming a bottom around $34. I traded FXP intraday for $3/share gain yesterday. I don't post these right away because I don't like taking time to come over here and write it during the day. If I'm posting mid-day its because the action is slow and I am waiting for signals. This is my style-- and I don't want anyone to think that I'm a poser. Currently, I'm down about $1.25/share on DUG.

End of Trading Tuesday

Still holding DUG, no reason not too. It retested its lows on Monday, only to reverse. Todays action was similar only it didn't test lows and it finished higher. I'm looking for DUG to trade higher very short term. If we happen to get a 5% to 20% profit taking in that sector, even better. Other than this, I haven't been able to find too much. In fact, the market is very eery. Volume is pathetic and action is primarily sideways. I'm concerned that the bulls just can't bring it higher. Technicals suggest an intermediate term rally like I've mentioned before but fundamentals point to a continued bear market with the worst yet to come.
Is this the calm before the storm???

Have a Great Weekend

I'm still holding DUG. I don't have many shares so I'm content holding for some time if I need to. I may place a stop above the IEO breakout in case it decides to make new highs and I guess it is getting close. I dabbled in FXP again today but decided to close it out at the close for a small profit-- I don't like holding that one overnight plus I wanted to see more selling in U.S. issues at the close which really didn't happen. I still think we are in a bear market, but I'm not sure how long the rally in U.S. will last. We might just see 13200 on the DOW before the bulls rest.

Have a great weekend!

Thursday

About 3:18 ET and I'm calling it a day. Yesterday I made no trades, although I almost got into RIMM AH but my trade never filled $118. I did buy SRS for an overnight.
I sold SRS this morning for a $1.50/share profit.
I bought RIMM today at $123 and sold at $124.
I am now holding DUG for possibly an intermediate term play. Oil has a tendency to give back some gains going into the weekend, so we will se what happens. If it is up nicely tomorrow I'll take profits, if not, I'm willing to hold it since it has hit the bottom of its channel-- I don't really believe in triple bottoms although the major indices are challenging my belief. Maybe DUG will too.

No April Fools

Well, I sat out Monday due to the rise in equities plus I was busy doing other things besides trading. Today, I was busy again, but saw the IWM flirting with its breakout (as were many issues). So I bought UWM and held it intraday for a $1/share gain. I also bought some XHB on a breakout intraday for a $0.40 profit. The bulls had their day, but how long will it continue???

I regret not buying GLD on its breakdown today. If its down again tomorrow, I'm in. At this point, I'm licking my chops and if the DOW can make it to 12900, I'll be salivating to put some shorts on. FXP, SKF, and any double inverse ETF is on my radar.

WMT, WFR, UYG, CROX, YHOO

These five will be on my radar early tomorrow. Look to long anyone one of those. I will sit out the first 30 minutes to get a feel for it all and absorb any news that comes out. I will also keep an eye on solars to see if they remain hot. An up market early will most likely keep me out unless I see short potentials.

Nice Retracement today

1. The S&P wonderfully hit support at 1315 late today. The IWM and the QQQQ did the same. Volume was low again. I'm actually quite surprised that the bulls have not been able to muster more power! It is the end of the quarter and we aren't even close to DOW 12700 (which is where I thought the bears would enter again). If the bulls couldn't bring it up today I don't see how Monday could be any different. We have further to go....it may not be Monday, but it will be coming.

2. UWM...hmmm... I thought the open would bounce more than it did and that is why I bought UWM at yesterday's close. I'm thankful for the little bounce that we did get so I could get out at a tiny profit. The initial open was weak and I immediately felt we would fall today so I got out of UWM. FXP has me quite confused over the past few trading sessions. I almost got in this morning at $91 because that is a tad below its lower trend channel. As I was watching that, STP decided to break out again today so I snagged shares just a tad over $40. I was going to let this run to see if it could move to fill the gap near $43.30, but I soon had $1.50/share profit staring me in the face with a lot of downard pressure in the markets. So I bailed at $41.38 in a nice disciplined way. FXP remained in a small upward channel today and I was in and out twice during the afternoon for profits of $0.70/share and $0.65/share. I'm confused by the bullish action in the FXI stocks, I opted to just stay away after that. Not a bad day for me at all.

3. I was eyeying CROX, YHOO, UWM (again), and UYG near the close. I opted to hold no positions over the weekend. We could bounce off of this retracement, but I'm seeing little reason to get long yet. UYG is very enticing, especially at its support $29.73. UYG may be entering a little consolidation between here and $29. The next support isn't until $27. But, I'm seeing little reason why this $29.73 support should hold. We have a failed move in financials and the indices-- and with failed moves come strong downward moves. I'm still electing to keep my trades intraday.

Have a great weekend.

10 AM central

Out of UWM basicly at break even. Feels like indices want and need to go lower, I think we will break that Fib level. Solars still on fire. STP broke above $40 and I put a toe in like I did with YGE yesterday. I'm going to be a little more greedy with this one see if we can't fill that gap and test $44 up there. UYG inticing at $30 ($29.73 is the actual support) but the financials are just too weak right now.

Up Down Up Down

1. This will be a quick post as I have about nothing to really discuss. This market is really just a mess. It seems the market is wandering in a 'fairly' tight trading range this week and many elected to sell ahead of tomorrows jobs numbers. 1325 was the close on the S&P and also marks a support line. Keep an eye on 1320 as a more meaningfull measure.

2. As I stated yesterday, I held FXP overnight against my better judgement. Instead of locking in the profit yesterday at $101 I took a small loss at $97. It made new lows all morning and I put another order in at $92 but it never reached that level. Had I held it all day I'd be about even on that trade. Solars remained on fire today as they had all week. YGE broke out mid morning and I snagged shares at $18.24 on the break over $18.20. I sold them an hour later at $18.90. IWM keeps hitting fib levels. I picked some UWM up at the close to see if this same pattern continues tomorrow and to see if it bounces off of that fib level again.

3. Not much I'm eyeing for tomorrow. If the markets bounce I'd like to short. I'd really love to see FXP in the low $90s to grab some shares. I'd like to see UYG test $30. I'd be looking for a quick entry around there.

Market does not want to decide but it will have too

Another interesting day where the mkt essentially can't decide which direction to go (even though we closed down). From where I sit I see a market that still needs to go lower.

1. Volume was uninspiring again today. Commodities exploded higher, financials and homebuilders sold off, more negative news, and CNBC keeps drinking the grape cool aid. Nothing new if you ask me. This market has not bottomed yet from a technical perspective. Toward the end of the day we got a spike up in equities. This was not short covering even though CNBC reported it that way. This was program buying. Don't confuse those two.

2. I'm still relatively neutral from a trading standpoint. I'd like to short on opportunities. My eyes have not changed since yesterday although I'm adding ABX to the list of short candidates. I'd like to see it hit $46 first.

3. I thought I had zero positions going into today but noticed I left 400 shares of SRS on the table in one of my accounts. I had originally bought it Monday at $92.50 and I had thought I sold it all yesterday at $95. Well i lucked out and sold the rest again at $95 today. I almost stuck my toe in UNH today because it is so beat up but decided against it because so many other things I'm trading are working too well. I did stick my toe (more like two legs) in AAPL briefly today as it broke to the HOD about 11:00am @$144. I was so concerned that it took over an hour to reach $145 so I sold it right there at $144.98. After that, nothing really striked my attention and I thought the mkt was just having another depressing day. I put in a buy on FXP at $99 and went to a meeting. At 2:40 it was trading at $101 after my buy was filled earlier. This was a nice profit but I'm thinking that the Asian markets will fall tonight so I decided to hang onto it overnight. This is really against my better judgement as i rarely hold short positions overnight (and any position, for that matter, in a bear mkt.).

The very first post of this blog.

The first post for this blog. I thought some of you would like some things that I do, so I decided to have my own blog. I will post my exact trades from time to time so that you may see what I'm doing. Unfortunately many of these will be after the fact. Most of my posts will be in the following format:

1. My thoughts on the general market and market averages.
2. Trades I'm looking to make.
3. Trades I actually made with some reflection. (Note, I rarely hold a position overnight in a bear market)

This post will be quick. As the market averages flirt with their 50 day moving averages I'm taking a neutral stance for the most part. Today I felt the closing numbers were meaningless. We are at the 50 DMA but the volume has been weak. I have zero open trading positions at the close today (obviously my long term investments won't be sold very often).
I'm looking to short heavily on a short term basis, my eyes are on SRS, XHB, COH, OIH, and FXP primarily for some entry points.
Briefly, I bought and sold STP today (in at $37 and out at $38). I bought and sold TWM twice for a dollar gain both times. I also bought SOLF a tad over $12 and sold at $12.50 for a nice intraday gain.
For those of you who don't know, I'm a huge fan of ETFs. 70% of my trades will be using ETFs.