Market Mid Day Update – What I Am Doing

Here is a mid day update, I have added very significantly into my shorts, this rally is driven mostly by short covering by weak hands. I do not believe it can sustain itself and continue to believe that oil will stabilise above 102. I am selling AAPL, as I believe it is up on hype, their CEO is dying, I feel terrible about it, but I believe it. I do not believe the new Ipad will sell as well. I believe the novelty will wear off. I am selling GS; I do not believe they can continue their record earnings run. I am shorting Costco. QCOM has had a great run but it is coming to an end.

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