Friday, August 8, 2008

Fedex and the Swiss Franc.

Is this a bull flag forming? I am prepared to take a chance here. Especially given the fact I was stopped out this morning. How many times have we been stopped out only to have said item immediately run the other way. I am getting long 1 unit of FXF here at $92.60 with a stop at $89.27

We look to be finishing this latest rally off right into the bottom of the previous flag. Former support should now serve as resistance. I am getting long 1 unit of Fedex ticker FDX here at $87.40 with a stop at $91.18



Housekeeping notes;

I was stopped out yesterday of my long TBT position at $68.30 for a small 40 cent gain on 1 unit.

I was stopped out of my long FXF position at $92.75 for a loss of just over 5 pts on 4 units.


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

Open Positions:
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 1 unit of Powershares Agriculture ticker DBA @ $34.50 stop $32.79
Long 1 unit of XTO Energy ticker XTO @ $43.85 stop at $39.62
Long 1 unit Currencyshares Swiss Franc @ $92.70 stop at $89.27
Short 1 unit Int'l Bus Machines ticker IBM @ $129.05 stop at $131.54
Short 1 unit Sun TrustBank ticker STI @ $44.50 stop at $46.18
Short 1 unit Fedex ticker FDX @ $87.40 stop at $91.18
Short 2 units of Visa ticker V @ $71.30 stop at $75.16

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