Wednesday, April 30, 2008

Testing the Water, long SKF and EFU

As per my notes above, I need to be long this one. Citigroup raising more and more money, The people claiming the credit crisis as almost over will look back at the days of subprime as pleasant when the Alt-A/Prime pay option pay ARM fiasco gets some steam. I am getting long 1 unit of SKF at $99 with a stop at $91.74

The MSCI EAFE index ticker EFA is ralling into resistance. Call me a skeptic but with all the facts surrounding the global mess, equities seem to been anything but a bargain. That being said I will not stick around long enough for it to be fatal if I'm wrong. The risk reward seems to justify some exposure here.

I am getting long 2 units of EFU here at $76.20 with a stop at $71.72

I mistyped in the open positions section my stop on EAT it should have been reading $24.14 my apologies.

Good Speculating to you all.

Open Positions:
Long 6 units Currencyshares Japanese Yen ticker FXY @ $88.55 stop at $91.40
Long 1 unit Allis-Chalmers ticker ALY @ $14.45 stop at $12.64
Long 1 unit Frontier Oil ticker FTO @ $27.90 stop at $24.64
Long 1 unit Ultrahort Real Estate ticker SRS $84.15 stop at $77.64
Long 2 units Ultrashort MSCI ticker EFU at $76.25 stop at $71.72
Long 1 unit Ultrashort Financials ticker at $99.10 stop at $91.74
Short 2 units Daimler AG ticker DAI @ $86.20 stops at $82.48/$81.38
Short 2 units Darden ticker DRI @ $34.55 stop at $37.18
Short 1 unit Brinker Int'al ticker EAT @ $21.25 stop at $24.14
Short 1 unit Retail Holders ticker RTH @ $97.95 stop at $100.44

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