No QE3. Rates at Keynsian 0 forever. Housing is weak. No surprise.
I sold the double-long Russell ETF UWM that I used to offset my double-short Russell mutual fund UCPIX prior to the announcement on Elliott and M/A considerations. So I'm 1% double-short Russell 2000 now. This is not to say that I believe that the multi-day rally is done, but that I'm starting to lightly step in with longer-term position.