Why I'm Covering Some of My Short Positions

On Thursday, I liquidated a small portion of my The-Economy-is-Going-to-be-Weaker-for-Longer-Than-You-Think Trade, which supplanted The-End-of-the-World Trade after the Bear Stearns (BSC) bail-out.

I sold some of my gold and my short positions in emerging markets, via sales of the UltraShort MSCI EAFE ProShares ETF (EEV) and the Dow Jones REIT ETF, (SRS), though I still hold most of my positions in all three.