Bigworld,
I had pressed on my short positions to a point that the margin calls were creating a draining cash flow so I opted out. I had a large short position on SPY and got clobbered. I bet against the casinos knowing a few higher ups in Vegas who told me business has been brutal but their Macau business seems to have bailed them out. I was hoping for bad news in China, but none ever came. I may enter some puts tomorrow to minimize further uptick pain but I just had to relieve myself of the damages for the time being. As I mentioned, my retail businesses have been doing very well and that leads me to wonder of true consumer spending and confidence. The public clearly is more value driven but they are spending regardless of the unemployment numbers and inflationary concerns. How long can that last? I didn't think this long, but corporate downsizing and fed stimulus has blind sided shorts creating ever increasing short term quarterly gains and rising share prices. This also cannot last but may carry the S&P to 1250. I needed to be out for those very reasons. If I see the bottom coming out of the market, I will get back in aggressively. If you see an indicator, as I am a property manager and retail owner and not a technical guru, feel free to give me a heads up. I too believe in the house of cards theory and that the current state of the economy is a false and purely government stimulated support system, but how long can the Washington lackies keep the game going? Every time I think they are done meddling they come up with a new short term fix. I've been kicked in the nuts and need to take a breather. Don't be a stranger if you see the legs begin to wobble. I'd like to hear your viewpoints. If not on this board then maybe another. Thanks. F4T
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