I finally got my big drop with high volume. Volume today was double what it has been most of the past two months. I sold all but 25% of my shorts and made a nice profit. I then started scaling into SSO to go long the market. I’m looking for that short covering rally now. This has the potential of being a rip your face off rally. Once people start covering, the panic will step in on the shorts and the people not wanting to miss a big move. I don’t think it will last very long but it should be fun.
As far as today…we had all kinds of news today about bailing out the bankrupt 3. At one point, they had a bailout plan and the market rallied and then they didn’t have one. That killed the rally and the market dropped. This whole thing is a mess and this doesn’t make anyone feel good about our government.
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