After watching the overnight markets rise nicely, I've decided to dump all of my TLT on the open and purchase one hundred of Indonesia's etf IDX on the open as well as one hundred short Euro etf DRR on the open; I'll give all of these two cent trailing stops. This could be the start of a nice rally inequities.
I got out of TLT at 98.22, for a loss of about $300.
I bought IDX at 64.97.
I bought DRR at 55.72.
I'm also going to be putting in an order to buy three hundred of the etf SDD (short small cap stocks) at 23.25 with a three cent stop; by the time this trade goes thru, my IDX will be toast. I'm really torn here; today the day began with a nice equities rally, but late in the day it fizzled. So far the overnite markets are essentially unchanged and so I look for a flat opening. This essentially comes down to a battle between Central Banks and the wolves; the last few weeks have shown that the wolves are much more powerful than I previously thought, and any more bad news from Europe will rattle the markets. But this week has been relatively stable and the slide down from 11,000 in the DOW has stalled around 10,000. It also appears that the ECB (or the Swiss) seem willing and able to intervene in currency and bond markets to stabilize any panics. I kind of think a slower, calmer downward trend is the way forward, and SDD will be my ticket. If SDD reaches 25.00 I'll be purchasing another three hundred on top of the three hundred at 23.25.