Here is he chart on Morgan Stanley (above) which I promised. The recent rally looks to be just another healthy rally correcting an oversold condition inside of a larger, longer term bear market. This short term rally looks to be a double top and while we could rally more the case argues bearish am I have punted to that effect.
I shorted 1 unit at $40.25 and will sit tight for now.
Quick note on Visa ticker V. I intend to get short on a violation to the downside of yesterdays low which is $71.49, fully intending to get shorter when the lower boundary of the flag formation is violated.
Good speculating to you all and no matter what anyone tells you, never ever forget that "an investor is a speculator who made a mistake and will not admit it".
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 ticker 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
Long 1 unit Ultrashort Financials ticker SKF @ $119.60 stop at $114.38
Short 1 unit Int'l Bus Machines ticker IBM @ $129.05 stop at $131.54
Short 1 unit Morgan Stanley ticker MS @ $40.35 stop at $43.43