Monday, August 4, 2008

Getting Long Powershares Agriculture - DBA

I last posted on DBA back on July 22 where I indicated I was watching intently. We have a longer term bull flag formed and we are now testing the lower boundary of it. We also have a fibonacci 50-62% retracement, right into "the box". Based on this, the time has come to do more than watch. Therefore, I am getting long 1 unit of DBA here at $34.40 with a stop at $32.79

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 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 1 unit of Powershares Agriculture ticker DBA @ $34.50 stop $32.79
Long 2 units Ultrashort 20yr Treasury ticker TBT @ $67.85 stop at $68.32
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
Short 2 units of Visa ticker V @ $71.30 stop at $75.16

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