Intraday Update

I continue to believe yesterday's 12:20 high for the QQQQ NASDAQ 100 was the high probably for the rally and we are moving down from here. We are adding positions, SLV short and long DZZ a leveraged short on Gold. There are many others in the watchlist that look great and trades underway that are profitable on the short side and can be added. We used the 30+% move in SSN today to exit that long.

FXP and FAZ are two 3x leveraged short positions (you buy them) that look very good right here. Watch your correlation-China is correlated with the $, commods, gold, silver, etc-and the market in a round about way. And of course the short on financials, you'll want to consider any banking shorts GS, JPM, etc. you may have and almost consider them as one position. That is why I gve you so many shorts last update so you can find groups not closely correlated to your current positions.