Monday, May 19, 2008

Update on the Dow

The above chart is a 60 day/60min close up view of the rally on the Diamonds (DIA) from the mid-March lows. This close up shows and up sloping trend line which depending on IF and WHEN it is broken would mandate adding to the trade on the short side. By the naked eye it looks about 128.70 -129 with much depending on the when. I will use a break of this trend line128.70 to add a 3rd unit to my Ultrashort Dow (DXD) position.
I will use the Diamonds (DIA) level of 132.68 as my stop on the Ultrashort Dow. So when the Diamonds (DIA) violate 132.68 I will be out of my DXD position.

I am sill watching and waiting on the following for entries.
Deutsche Bank short (ticker DB) thru $116.40,
Darden (ticker DRI) thru $35.55,
Swiss Franc (ticker FXF) thru $ 96.10
Ultrashort Dow ticker DXD) thru $128.70

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 $16.64
Long 2 units Ultrashort Dow 30 ticker DXD @ $49.65 stop at DIA $132.68
Short 1 units Daimler AG ticker DAI @ $86.20 stops at $82.48
Short 1 unit Brinker Int'al ticker EAT @ $21.25 stop at $24.14
Short 3 units Retail Holders ticker RTH @ $96.72 stop at $98.56
Short 1 unit Goldman Sachs ticker GS @ $197.95 stop at $197.68
Short 1 unit Darden ticker DRI @ $37.30 stop at $40.27
Short 2 units Lehman ticker LEH @ $43.70 stop at $47.46
Short 1 unit Deutsche Bank ticker DB @ $117.80 stop at $120.18

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