It’s been a terrific morning, and I took profits by covering such items as EWY, GDX, and XME. I went from about 150% committed to 125%. It was actually less, but I took on a substantial short position in IWM based on its big bounce. Below is the /RTY, which illustrates how the futures roared higher (inexplicably) but have begun to falter at the broken trendline.
