Chicken little!

Time to go long, that's right LONG.

If you are following my moves, you should either be 100% in cash, or in a 70/30 long short position. Time to sell some more shorts, not all, but time to go long on some ETF's.

At the moment I like commodities, but i don't want to play them straight. Instead, i going long on (UYM) its been hammered in the last week. Its largest holding is FREEPORT-MCMORAN. I've also gone long on (FAS) Daily Financial Bull 3x Shares. This fund is down 20% in the last few days.

UYM- ProShares (200%) the daily performance of the Dow Jones U.S. Basic Materials Index.

Just a friendly reminder- ONLY reinvest 20;. Sell another 20% of your short positions as well. Keep some inverse ETF's on the table and some short term puts on the averages just in case fear really overtakes the market.