While the close is more important than intraday, with the S&P 500 drifting below the 5 day moving average I am going to sell the levered ETFs for losses and watch from here. Last Friday and this past Monday the market did the exact same thing and bounced back so no big issue. But if the market does not have momentum in 1 direction these levered ETFs start to act poorly.
I might consider going 180 degrees, and try the short side (for the afternoon only) on the indexes if S&P 1160 breaks. Which I realize is asking for a miracle.
Other than that, I'll be manning the 1-800-Default phone lines ...
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