My current position - Bought FAM & NZH -- Sold FLIR & SRS

Wow... what a day it was. After a non event QE2 day for yesterday, all indexes were closed positve huge. In my opinion, most investor need to be careful. Don't chase anything and please raise your stop to protect gain or take some off.

Lucky for me, I sold my SRS hedge yesterday for +2.6% profit otherwise I would have lost -2.4% (a 5 % swing).

I also sold FLIR (+9.6%), I just don't see any big risk reward profile for this stock in near term. This selling maybe early. Today, it prints another doji.

I also add NZH and FAM this week for my long term. NZH is a CA Municipal CEF with 6.8% yield after tax.
I also add FAM (global bond CEF). If the dollar keep dropping like a rock, the other currency will rise. I also think QE2 is a big mistake. US consumers have no purchasing power (aka Broke), this will only create a speculative bubble for trader.

So, My current stock holding (small position) is
FLIR (Flir System) - Defense
MCK  (Mckesson Corp) - Drug Service
URS (URS Corp) - Engineering Services
ACL ( Alcon) - Drug / Healthcare
MRK (Merck) - Drug /healthcare

Hedge:
SRS (Ultra Short REIT)
Long term:
JNK - Junk Bond
VMO - Muni Bond Closed End Fund (CEF)
VGM - Muni Bond Closed End Fund (CEF)
NZH - Muni Bond California CEF
FAM - Global Bond CEF
Cash -- Ton of them

Please trade responsibly!