Earlier this week on 12/5 Daily comment said: "If USA mains hold DecPs again I'll cover some shorts. But if more join QQQ below DecPs as VIX climbs, I'll hold."
And the next day SPY formed low above DecP - ES bang on it - and VIX fell back under DecP in a convincing manner.
Cutting back some hedges was the way to go, but still, SMH and FXI hedges from the week prior worked out quite well. :)
As usual more on the blog over the weekend.
