Friday, August 22, 2008

Getting Short the S&P 500 via SDS

We are getting quite the rally today. I have been watching the Spiders ticker SPY and they are now rallying into the broken up trend line. I prefer to short the Spiders via the Ultrashort Spiders ticker SDS. I am getting short 1 unit if SDS here at $ 64.55 with a stop just above the last reaction high on the SPY at $130.58



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 2 units of Powershare Agriculture ticker DBA @ $35.35 stop $34.79
Long 2 units of XTO Energy ticker XTO @ $45.40 stop at $44.48
Long 1 unit Currencyshare SwissFranc ticker FXF @ $92.70 stop at $90.68
Long 1 unit Ultra Oil & Gas Proshares ticker DIG @ $84.35 stop at $79.68
Long 1 unit U.S. Oil Fund ticker USO @ $96.95 stop at $91.38
Long 1 unit Ultrashort S&P500 ticker SDS @ $64.65 stop at SPY $130.58
Short 1 unit Int'l Bus Machines ticker IBM @ $129.05 stop at $128.56
Short 3 units FedEx ticker FDX @ $87.10 stop at $88.16
Short 2 units of Apple ticker AAPL @ $178.05 stop at $182.76
Short 1 unit Blackrock ticker BLK @ $218.50 stop at $218.126

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