Here is an updated chart on the Spiders illustrating the reasons for my entry into the SDS. I like the look of this very much. I also feel the need to have a bearish bet on the table as what is unfolding here in the capital markets is nothing short of historical. The need is such that I am getting short a 2nd unit of the Spiders via SDS here at $64.50 leaving my stop alone.
Regular readers know my thoughts that this was the mother of all credit bubbles and the ramifications are slowly spreading to the broader economy. I must have a bearish bet on the table for the moment when the short bus riding equity boyz wake up, either voluntarily (don't hold your breath waiting for this) or via an outside influence, like a margin call, client liquidation, lender fear or the like.
Good speculating to you all and never ever forget that "an investor is a speculator who made a mistake and will not admit it".
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 2 units 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