Wednesday, March 19, 2008

Closing SPX

Although I think the US economy is still poised for a severe slowdown, I would like to reverse my short position in the SPX. Given the actions of the Federal Reserve, and the decline of the dollar, there is currently a credible risk that the S&P will rally. I will maintain the position that the global economy will slow substantially via my short position in Copper, however equities contain too much risk to take a directional bet right now.

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