Monday, August 18, 2008

Ready to Add to Fedex Short

The jobbing around that Fedex is doing here looks to be winding to a close. As my notes on the FDX chart (above) indicate, I am prepared to add another unit short on a violation of the $86 which is Fridays low.
I have been watching the US. Gasoline fund ticker UGA and I believe the time has come to watch this even more closely. It is not the most liquid of vehicles so one last further shakeout could be fast furious and most painful.

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 of Powershare Agriculture ticker DBA @ $34.50 stop $32.79
Long 2 units of XTO Energy ticker XTO @ $45.40 stop at $42.28
Long 1 unit Currencyshare SwissFranc ticker FXF @ $92.70 stop at $89.27
Short 1 unit Int'l Bus Machines ticker IBM @ $129.05 stop at $130.54
Short 2 units FedEx ticker FDX @ $87.70 stop at $91.18
Short 2 units of Apple ticker AAPL @ $178.05 stop at $182.76
Short 1 unit Blackrock ticker BLK @ $218.50 stop at $226.18

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