Monday, March 24, 2008

Taking a punt on Ultrashort Financials.


This pullback seems more hope induced than based on any concrete facts. The incessant talk of financials bottoming is wonderful cover to get shorts out at fat levels. Besides, I won't forgive myself if I don't use this pullback for what it is, a gift to get involved in SKF again at very reasonable levels. I am long now 1 unit of SKF at $100.60 with a stop just below at 98.7

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 1 unit Ultrashort Real Estate ticker SRS @ $92.70 stop at $89.65
Long 1 unit Ultrashort Financials ticker SKF @ $100.70 stop at $98.70
Short 3 units of Deutsche Bank ticker DB @ $117.15 stop at $119.40

No comments: