Another pretty picture

Here's a shot from Longwood Gardens, which has nothing to do with anything.

Anyway, re: the market-

Just went short the IYF...so now have small short positions in SRS, SSD (short semis), and now short financials, in addition to shorts of the QQQQ's and the Russell...none very large positions, but I am trying to hedge part of the volatility out of the portfolio.

I knew it, I knew it, I knew it...if this is a top, it is going to happen through very big money at lightening speed.

Expect recent support to be at least challenged...I still have no idea if this means the beginning of something bigger and scarier.

But last week's bond action (which I spotted) is continuing, which is ominous.

I ditched some non-working positions to raise cash : GOOG, part of GGB (really just profit taking there), PAE which is cratering, some other small fries.

Again I say- this is a market in which everyone is watching charts...when/if a significant move down occurs, it will be VERY FAST and the ones left standing will be hurt badly. No gentle downtrend, here.

I will be watching support levels here...if we get more breakdowns, I will look to proceed with a shorting bias in the immediate term.

Let's put it this way: as of right now, I'm up 15% in my REIT short position of about two weeks in length...STUFF IS HAPPENING.