Taking a Short Position – Updated

We have determined that we will go ahead and put on a short position–protecting against major falls. With todays weak equity market open we will wait for the next bounce (today or tomorrow most likely) and then purchase Proshares SP500 UltraShort shares (ticker:SDS).  We will purchase 1500 shares which will protect the equivalent of the common shares we currently hold.

The bottom line is that globally economies are very dicey and we think the U.S. economy is teetering on recession.  When we look at the energy, ag and basic industry layoffs it is hard for us to come to any other conclusion.  The dollar strength is killing what was left of U.S. manufacturing (for the time being).

We hope to write more at length on this topic sometime later this week.

UPDATED- we executed this position 30 minutes ago.