Tuesday, March 25, 2008

SRS Correction

Interesting bar yesterday on Deustche Bank (chart above). A shooting star, or exhaustion bar just as it reached resistance. A break of the low of that daily bar, 112.78 should be the start of a new leg down.

I noticed that CNBC has been running and re-running clips of BlackRocks Bob Doll's bullish "bottom" comments. Correct me if I am wrong but is this not the same Bob Doll of BlackRock that is going to 'manage' the book from Bear Stearns on behalf of the FED ooops I mean JP Morgan?

In my haste to post, I made an error noting my 2nd unit of SRS was purchased at 93.90 when in fact it should have read 2nd unit of SRS at $92.90.

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 @ $92.85 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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