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Although it may be an unfair disadvantage to the short-only hedge funds, I am looking forward to seeing the proposed SEC rule of institutions of >$100million to be required to show their daily short sale positions. I know the first name I'll type into the SEC database that morning it becomes public will be Kynikos Associates.
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By the way does anyone else get the feeling that this record breaking rally will be short-lived in spite of the the short selling ban, the trillion dollar bailout of the banks' troubled MBA securities, the saving of AIG, the reinsurance of money market funds, etc., etc.? We still don't enen know how the government is going to value those securities or how many cents on the dollar they are going to buy them for.

I have a feeling that while financial armageddon was quickly averted, the skies aren't as blue as the significant relief rally would suggest. I happen to think that we will be retesting those lows of only a few days ago in a short period (less than 3 or 4 weeks). Government intervention helps only so much in a troubled deleveraging economy. Anyone think the U.S. will be the new Japan for quite a number of years?

Sometimes winning is not losing, and i'm going to limit my long equity exposure for awhile. It's amazing for a rookie, young guy like me to discover what a flemsy house of cards our financial system and markets are really based on. Hopefully our economic/financial uncertainty will have a happy ending, buy I'm not betting on it. And hopefuly the opposing political parties can put there differences aside for the benefit of the economy and the little guy. They say during panics the best thing to do is stay invested, but with the market giving us a chance to break even, I'm gonna sit on the side-lines for maybe quite awhile.

Happy Investing,

Frankiwa
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