Ou manage a portfolio worth $19.5 million, currently all invested in equities, and believe that the market is on the verge of a big but short-lived downturn. you would move your portfolio temporarily into t-bills, but you do not want to incur the transaction costs of liquidating and reestablishing your equity position. instead, you decide to temporarily hedge your equity holdings with e-mini s& p 500 index futures contracts. a. should you be long or short the contracts?