Pascal,
In your comment you say: "Furthermore, any pull-back will force us into cash again, since we are close to the -90 level which would trigger the fail safe mechanism."
As Adriano says:
If IWM drops by 1.50% and independantly of the intraday move closes down by about this %, won't this trigger the fail safe?
PLEASE DELETE MY QUESTION. I just read Billy's comment and it clears up my question. Thank you