I took profits this morning when the market opened down over 100 pts. I sold my SDS (ProShares Ultrashort S&P500), which was 70% of portfolio.
I made 17% net on that SDS in three months, which I can’t complain about. I figure it is better to take some profits and not be too greedy.
I’ll be watching the market to take those short positions again when I think this short term “bounce” runs out of steam. I would guess we could see this “bounce” raises the indexes 5%, and we are already up half that percentage on the S&P 500.
