Tuesday, March 25, 2008

Getting Short Citigroup... among others.

As my notes indicate, this rally is no different than the one that occurred in late January. Low volume short covering driven. Things are getting worse not better and tis better to believe in the tooth fairy and Santa than the power of the Fed to make this credit crisis all go away.

I am now short 2 units C at $23.50 with a stop of $25.40

I am using the intra day weakness today to add a 2nd unit to both SKF and SRS. Adding to winners is usually a good thing.

I am long a 2nd unit of SKF at $103.55

I am long a 2nd unit of SRS at $93.90

Good speculating to you all.

Open Positions:
Long 6 units Currencyshares Japanese Yen ticker FXY @ $88.55 stop at $91.40
Long 2 units Ultrashort China25 ticker FXP @ $84.55 stops at $84.85/$96.65
Long 4 units Ultrashort Dow 30 ticker DXD @ $58.00 stop at $53.10
Long 2 units Ultrashort Real Estate ticker SRS @ $93.35 stop at $89.65
Long 2 units Ultrashort Financials ticker SKF @ $102.20 stop at $98.70
Short 3 units of Deutsche Bank ticker DB @ $117.15 stop at $119.40
Short 2 units of Citigroup ticker C @ $23.45 stop at $25.40

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