What next for swings?

I know that this sounds surprising to many, but for now, I will continue to short the rallies UNLESS the charts change, and then I'll join the "long side" club. The "short the rallies" strategy has been profitable (despite the last loss I took from Friday's ill timed entry). Now of course, if the charts change, then I'll switch to bullish.

They could change tomorrow in fact, but for now, that's my strategy. It's been working.

Right now, I do not have any swing positions. I was able to short very close to the high in SPX today (using tza) but I decided to cover the short before the end of day mini-rally. However, because the charts are confused, throwing different signals in various timeframes, I decided to close out the trade in TZA profitably, selling it for profits of 4.5%, 4.07%, 2.70%, and 1.1% (I sold it in 4 pieces).

Tomorrow I will search for opportunities to enter new swings, although I don't know if the setup will come tomorrow or not. If it does not, then I'll wait.

* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".