Thursday, June 12, 2008

Getting Long Kinross Gold - KGC

I want you to have a look at the weekly on Kinross Gold ticker KGC (above). We look to be having a major correction amidst a well defined uptrend.

Now switch to the daily view of Kinross. I like the looks of the formation here. with a potential double bottom forming inside this channel correction. It looks enticing enough to get me long 1 unit here of KGC at $18.60 and I will add a 2nd unit on the move above $19.

Senator Lieberman proposing to ban institutions from commodity speculation. Listen you cannot make this stuff up. Get ready for more and more of this. We are headed to a very bad place, lead by the nose with ideas by very ignorant, stupid people. There is no way to sugar coat this. Sorry if you were hoping to hear something different or more 'positively slanted' For that I would higher recommend keeping the faith with the Pollyanna's on pompom TV. Sit back and think of the most outrageous most numskull idea you can think of. Now write it down because it is coming soon via your local senator or congressman/woman. But don't worry, American Idol is on, and so is Survivor, so there is no need to worry !!

Good speculating to you all.

Open Positions:
Long 6 units Currencyshares Japanese Yen ticker FXY @ $88.55 stop at $91.40
Long 3 units Ultrashort Dow DXD@ $50.12 stops 2/1 at DIA $130.26/127.34
Long 2 units Ultrashort Financials SKF @ $103.90 stops at XLF $26.72/25.54
Long 1 unit Currencyshares Swiss Franc ticker FXF @ $96.25 stop at $93.82
Long 2 units Ultrashort Real Estate ticker SRS @ $88.80 stop at IYR $71.08
Long 1 unit US Gasoline Fund ticker UGA @ $60.35 stop at $60.92
Long 1 unit US Heating Oil Fund ticker UHN @ $58.00 stop at $60.87
Long 1 unit Ultrashort QQQ ticker QID @ $37.05 stop at QQQQ $52.24
Long 1 units Ultrashort S&P ticker SDS @ $57.20 stop at SPY $141.54
Long 2 units Frontier Oil ticker FTO @ $26.25 stop at $24.22
Long 1 unit Hecla Mining ticker HL @ $8.30 stop at $7.16
Long 1 unit Kinross Gold ticker KGC @ $18.70 stop at $17.56
Short 1 units Daimler AG ticker DAI @ $86.20 stop at $82.48
Short 1 unit Brinker Int'al ticker EAT @ $21.25 stop at $22.44
Short 2 units Goldman Sachs ticker GS @ $191.53 stops at $184.43/180.76
Short 2 units Darden ticker DRI @ $36.35 stops at $36.37/$35.24
Short 2 units Lehman ticker LEH @ $43.70 stops at $36.27/$30.92
Short 2 units Deutsche Bank ticker DB @ $117.03 stops at $114.89/105.37
Short 2 units HSBC ticker HBC @ $83.23 stop at $86.78
Short 1 unit of Visa ticker V @ $86.25 stop at $91.17
Short 1 unit of Netflix ticker NFLX @ $31.10 stop at $34.64

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