Thursday, July 31, 2008

Getting Short International Business Machines - IBM

After another look at the IBM chart this morning and watching the overall market I need to be short this name. I know IBM has been THE market stalwart. Knowing this I am getting short 1 unit of IBM here at $128.95 with a stop at $131.54. Crazy maybe, but you never know til you bet.

Good speculating to you all and never forget that "an investor is a speculator who made a mistake and will not admit it".

Open Positions:
Long 6 units Currencyshare Japanese Yen ticker FXY @ $88.55 stop at $91.40
Long 4 units Currencyshares Swiss Franc ticker FXF @ $97.70 stop at $93.82
Long 1 unit Ultrashort Dow DXD@ $50.12 stop at $58.62
Long 1 unit Ultrashort QQQ ticker QID @ $37.05 stop at $42.87
Long 2 units Hecla Mining ticker HL @ $8.50 stop at $8.09
Long 2 units Ultrashort 20yr Treasury ticker TBT @ $67.85 stops at $69.24/68.32
Short 1 unit Int'l Bus Machines ticker IBM @ $129.05 stop at $131.54

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