Look at the chart from Jesse and you will see what and why I was selling into.  This is still a good tactical place to be shorting but for sure there are a number of hedge funds that sold short at much much lower levels who have yet to cover and they could propel the market higher.  At this point we may well have set a bottom for the stock market and if we are lucky enough to see a dip it may be time to buy for a ho.
http://jessescrossroadscafe.blogspot.com/
Shortly after China took Hong Kong back from the Brits they had a big sell off and if my memory is correct ( this was a long time ago) at around 7,500 on the Hang Seng the Chinese government came in and bought everything.  A few months later they were able to unload their position at a huge profit.  This may well be the template the central banks are using.  If so we might see a repeat of 2009 when most of the "trade" missed the rally as the fundamentals conflicted with the FED buying stocks to make everuone's 401 Ks look a little better.

Trading has been very profitable up and until now.  I have sold my FAZ position at a loss.  I had been hoping to clip a drop back after such a huge and fast rally.  The  market may drop from here but I would rather stand aside until I see another move.

This is a non event day.  The market is still hovering around unchanged.  They might try to rally it into the close and that would be a time to add to FAZ.

I still have a small position in FAZ.  Given the news, or lack of it so far today, the stock market should be going down.  Instead it is hovering around unchanged so we might get a rally from here.  If the market does rally I will add to my FAZ position.  Otherwise I am standing back and watching.

I have been buying a little FAZ ( looking for Financial stocks to fall ) and I took profits on AGQ.  I do not have a large position and will almost certainly liquidate it if the  stock market moves higher tomorrow.