Friday, August 1, 2008

Short Visa - V once again.

Housekeeping notes;

I got short 1 unit now of Visa ticker V at 71.46 as it broke yesterdays low at 71.49. I subsequently have added a 2nd unit short at $70.95 as Visa violated the lower boundary of the bear flag I drew on the chart I posted prior. This now gives me 2 units short at an average cost of $71.30. I will place my stop at $75.16

I am also going to raise my stop on SKF to $119.90 in an effort to be defensive as well as not let a winner turn into a loser.

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 2 units Ultrashort 20yr Treasury ticker TBT @ $67.85 stops at $69.24/68.32
Long 1 unit Ultrashort Financials ticker SKF @ $119.60 stop at $119.90
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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