Tuesday, May 6, 2008

Adding to my RTH short.

I should wait for a close below the low of Thursday's bar of 96.11 but I am comfortable getting shorter the consumer, err excuse me I mean the retailers. I am adding a 2nd unit short to my RTH position at $96.35 and am adjusting my stop to $98.56

Remember this chart. The Yen. Are you watching it. It is still the stock of the global leveraged soup. The temporary reprieve in global de-leveraging looks to be almost over. Things could get interesting if we take out 96 to the upside here.

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 Ultrahort Real Estate ticker SRS @ $84.15 stop at $77.64
Long 2 units Ultrashort MSCI ticker EFU @ $76.25 stop at $71.72
Long 2 units Powershares DB Agriculture ticker DBA @ $36.35 stop at $35.24
Short 2 units Daimler AG ticker DAI @ $86.20 stops at $82.48/$81.38
Short 1 unit Brinker Int'al ticker EAT @ $21.25 stop at $24.14
Short 2 units Retail Holders ticker RTH @ $97.20 stop at $98.56
Short 2 units Research in Motion ticker RIMM @ $133.10 stop at $135.72
Short 2 units Goldman Sachs ticker GS @ $197.95 stop at $204.14

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