Not Too Much To Do Today

There was not much to do today, especially after 10:30 a.m. (central time). Unfortunately, I was in court for most of the morning so I missed most of the good shorting opportunities. I did use today's strength in the dollar to exit my long dollar position (uup) because that idea didn't pan out the way it should have. The dollar and the markets seem to have started their inverse correlation relationship again, which indicates that the dollar strength at the end of 09' was probably just traders unwinding their carry trades for the year.

The selling in the markets stalled out this morning and almost all of the stocks that I have on my potential short list couldn't follow through to the downside...so I went long TNA this afternoon with a buy the dip trade. We'll see, BGU may have been a better call but the small caps have been strong lately.

Have a great long weekend!

TLT