Weekly Review

I barely traded last week, so no trade summeries. I currently have a few swing short positions open

long FAZ 18.68
long SRS 9.68
long TZA 11.12

My reasoning behind the entries were:

FAZ - The financials had a huge run along every other sectors the last 2 weeks. It seemed like it ran out of steam by the time GS and BAC reported earnings. It's relatively weak compared to the S&P. If the market turns, financials would probably drop faster.

SRS - While all the other indexes were making new highs last week, IYR was noticebly weaker. It never broke through the high it made on 9/17. This could mean it's just lagging, we'll know more tomorrow when the housing numbers come out.

TZA - stupid counter trend trade, not much reason behind it except I think the market is over extended. Just a small position.

The market was much stronger than I expected today. Apple's earning is not helping either. Let's see how these trades play out.