Update 09/02/09

The day began with a furious rally to close yesterday's gap down open. Once the gap was closed, the markets reversed in a hairpin turn and proceeded to crash for the rest of the session. The bear market rally appears to be done, and if that's the case, market dynamics will reverse. Instead of furious rallies with shallow pullbacks, be prepared for relentless selling with sideways bounces.

We lost several long positions: AUY (bought today), UYG and SRZ, but our short positions really blossomed. We also bought ARIA.

Current Holdings
Ticker	Basis	Closing Price	Perf.	Sell-Stop	Addl Exit Guideline	Chart
SDS	44.12	45.60	+3.4%	42.99	N/A	Chart
TWM	32.36	33.82	+4.5%	31.32	N/A	Chart
FXP	10.04	11.43	+13.8%	10.71	N/A	Chart
ARIA	2.26	2.35	+4.0%	2.13	N/A	Chart
VXX	57.34	62.36	+8.8%	58.42	N/A	Chart
REG	33.27	32.27	-3.0%	32.09	N/A	Chart
V	70.44	70.14	-0.4%	69.27	N/A	Chart

Waiting for setups to develop in the coming days after today's wide range move.