Thursday, May 8, 2008

Ultrashort Russell and S&P

I am encouraged enough by yesterdays action to get long 2 units of SDS here at $57.10 The washout looks complete. Stop at $53.17

Getting long 1 unit of the ultrashort russell 2K ticker TWM here at 74.50 with a stop at $69.92 Again the action yesteday is very encouraging as a short term trendline was taken out on some volume. Looks like a low risk entry point from here.

I am adding a 2nd unit long to ultrashort real estate ticker SRS here at $86.40. I now am long 2 units at $85.35

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 2 units Ultrahort Real Estate ticker SRS @ $85.35 stop at $81.84
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
Long 2 units Ultrashort S&P500 ticker SDS @ $57.05 stop at $53.17
Long 1 unit Ultrashort Russell 2K ticker TWM @ $74.60 stop at $69.92
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
Short 1 unit Darden ticker DRI @ $37.30 stop at $40.27


M said...

I really like your trades overall, especially FXY, SRS and DBA.

Might I recommend a put on XHB? Or more specifically if you want, WCI and SPF, which will probably be bankrupt by the end of summer.

A friend of mine, who's been accurate in the past, also recommends a put on Sprint:

Given high market saturation and VZ and AT&T's market share gains, Sprint will disappoint big time. No wonder S&P assigned them a junk status. Unless they can spin this bs wireless venture, the stock will sink next week. No wonder they have been trying so hard to put out merger and wireless venture news. It will be less painful to see the stock sink from 10 down to 7 or 6 then from 8 down to 5. That's their last option. Who is going to want to buy a losing business, worthless assets and a failed technology. They haven't made money with Pivot and they won't make money with any other venture. If no one buys them, expect them to go bankrupt in a year."

Harleydog said...

thx for your comment. Yes I have been watching the homies very closely. I don't trade options. I will have a look at sprint. thx again.