Castrati in Opera

We're at a pivotal point. The bears need to prove they have the strength to drag things down, instead of just squealing like castrati in Opera. Until then, I'm reducing my short leaning positions.



I've closed my TWM (Ultrashort of Russell 2000) position. I've also closed my ANF short & SSG positions. A thorough breakdown from current levels will force me to close my remaining long positions.

In retrospect, the MPEL buy from this morning looks like a valiant attempt at catching falling knives. That is also giving me pause from buying some other names like DRYS.



Bottomline: Getting back to Trendline support is good. A reversal pattern near the trendline is better. I'll wait for better.