Unbridled bullishness

Positions are hanging in there very well this morning. Considering that the market is up 100+ points and my entire exposure is short that is no small feat. I can't help thinking how well the positions might be doing however if the market was to get a reality check. Still this period appears eerily reminsicient of early 2000 in terms of the strength of the market right into the face of the rate tightening. We know how that ended, but we also know how long it went on.

I am keeping a close eye on the two positions and will likely keep them on for a few more days to give the market some more time to crack. Still up slightly in Countrywide while Freddie Mac is still declining moderately. Don't panic. ;)

Best regards,

BG