Tuesday, July 22, 2008

Watching DBA Intently

I have not commented on the Powershares Agriculture fund ticker DBA (chart above). We seem to be going through a significant correction which looks very healthy from a long term perspective. I will be watching the $34 area quite closely.

Housekeeping notes;

I was stopped out of my USO position at $103.50 for a loss of about 2 pts on 1 unit long for a very short visit, but that does happen with stops and why they are absolutely necessary.

Good speculating to you all and always remember 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 2 units Ultrashort Dow DXD@ $50.12 stops $60.49/58.62
Long 4 units Currencyshares Swiss Franc ticker FXF @ $97.70 stop at $93.82
Long 1 unit Ultrashort QQQ ticker QID @ $37.05 stop at $42.87
Long 1 unit Ultrashort S&P ticker SDS @ $57.20 stop $66.89
Long 2 units Hecla Mining ticker HL @ $8.50 stop at $7.74
Long 2 units Kinross Gold ticker KGC @ $18.93 stop at $21.24
Long 2 units Ultrashort 20yr Treasury ticker TBT @ $67.85 stops at $69.24/68.32
Long 1 unit SPDR Gold trust ticker GLD @ $94.95 stop at $91.84
Short 2 units Brinker Int'al ticker EAT @ $20.07 stop at $19.64
Short 2 units Darden ticker DRI @ $36.35 stop at $33.16
Short 1 unit Deutsche Bank ticker DB @ $117.03 stops at $93.37
Short 1 unit of Visa ticker V @ $86.25 stop at $76.32
Short 2 units of Netflix ticker NFLX @ $30.35 stop at $29.43
Short 1 unit of Fedex ticker FDX @ $79.05 stop at $81.32

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