Increasing short equity positions...

I want to build large net short positions... since the market opened upward. As we learned in January, market downturns can happen abruptly.

I said I only have approximately 5% of NAV in PBR and a 5% short position in SPY before. (The pair trade was a loss)

Now I want to increase my position to 20% short SPY. If it rallies further, I would short the even more volatile IWM (Russell 2000.) SPY is above 87.10 when I am writing this.

I will add tomorrow, and finish on Friday establishing a large short position if it continues to rise.