I'm placing stops on all my ultrashorts below today's low

I don't want to get reamed by a bear rally. Bulls proved they could push price higher today, in most cases on higher volume than Tuesday - though crucially, on lighter volume than last Friday. Bulls couldn't hold price, but there are very suspicious and ominous looking hourly H&S patterns on about every ultrashort I own. They project to about where I bought them!

I'm placing a sell order for all but one third of SDS, DXD, TWM, DUG, EEV, and all of QID slightly below today's low. I will reserve judgment for a stop level on the remaining third, but I may just dump 'em on witnessing a decisive break of the neckline. I'm not going to hold the third for an entire drawdown, just want to judge a clean break in real time.

Some very wise traders here who called the Tuesday rally are either still long or looking for more. TT poll was very bearish yesterday allowing price to advance. I don't want to hold through a potentially stronger advance. My T.A. says SPX could easily break 741.02 with Quality of Volume on a weekly this week, but I also see how this could wait until March.

I'm selling all DUG and EEV below today's low. So I'll only hold a third of SDS, DXD, TWM, in case Hank Paulson shows up on TV for some reason Here are my stop targets: EEV @ 57.47, DUG @ 27.48, DXD @ 70.48, SDS @ 87.87, TWM @ 83.47, QID @ 55.92 (loser)

That looked like a shake out to me. A gap up looks likely right now. Maybe 780 plus.