Covered XLF | SKF on deck

I shorted XLF on Friday and covered today for a nice profit - probably a little prematurely - but it is off 18% in three days and I am in no mood to be on the wrong side of the next short squeeze around the corner. I would rather wait for a small bounce to do it all over again.

Plus, in the last 5 years or more, this is the first time that XLF has had two consecutive days where the high has been less than the low of the previous day (2 big down gaps). So I'm not real interested in gambling on how that will play out.

For those following the SKF short strategy, it is not yet time to short but it could be triggered as early as tomorrow.