Sell Away

The support lines have done their stuff. As soon as I saw that the FTSE was strengthening this morning and there was no follow through on the fall on Wall Street in the futures market I concluded that the support lines were bringing out the bulls. I sold more than half of my shorts on the FTSE (SUK2) and then more than half of my shorts on the DOW and S & P (DXD and SDS) as soon as the US market opened. (I was taken to lunch at the Moody Goose in Midsomer Norton. The food was fabulous. I thoroughly recommend it.)

I was very well fed but I was flying blind when I sold the shares but it turned out all right and I pocketed a healthy profit.
I also cashed in a decent profit on silver (PHAG). The market was weakening this morning after a poor performance yesterday and it was following something that looked like a peak.
Gold turned down after I went out so I had no chance to sell. Some of it will probably go tomorrow morning. I am sitting on a healthy profit.
With the indices back inside their range tomorrow may be dull but I intend to stay alert because this market is so jumpy.
I am now 83% in cash, 10% mostly gold and 6% in shorts.