My short postions got knocked around again yesterday in pyschotic action that leaves me thinking the upward run in the SPY is just about out of steam:
NB that we wound out pretty much where we were before the announcement, after some really breathtaking gyrations.
We are bumping up into some resistance points which is where I have placed most of my stops; if we rally from here I'll be a little unhappy, but on the plus side there is obviously some overhead supply as demonstrated yesterday.
I am still net short and in cash at this point. I shouldn't let two days of an oversold rally rattle me, but I hate to lose money even if things are still moving to plan.
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