Well looks like FLR is getting close to your buy point. I think the market is due for a dead cat bounce again. I've closed many of my short positions and have been adding some quality long positions like SOHU, BTU, and ENER.
MMs have killed the shorts and now are killing the longs. Watch the volume. We saw those large chunk of 30k, 40k,50k, 60k shrs selling orders and 10k, 20k buying orders, and you know what direction this stock will go.
There could be a pull back but why would you short the only company out there that put together a fantastic quarter and raised guidance for full year and 2009. I'd rather just wait for a pull back and then go long again.
Well because the odds are that the overall market will sell off taking all stocks with it. It's just easier to short in a bear market. Plus it is a trader's market, so by all means make money going long too, just don't forget take some profits!