Monday, September 29, 2008

Shorting the Long Bond.


The time has come to take the opposite side of this trade. We look to have filled the gap down from last week. The bailout bill is total garbage, just like the paper it will buy and the claims we all will make money on it, utter garbage. But his matters not a whit as self preservation is a stronger instinct in Washington than moral fiber or patriotism.

That said, I am punting the long U.S. bond on the short side. That is, I am getting short the long bond, betting prices will be falling and interest rates will be rising. The die has been cast whether we like it or not. Bailout or no bailout, recessions still exist though many wish they didn't.

I am long 1 unit of the Ultrashort 20yr. Treasury ticker TBT at $60.40 with a stop at $57.32



Good speculating to you all and never forget that "an investor is a speculator who made a mistake and will not admit it".

Open Positions:
Long 1 unit Ultrashort 20yr Treasury ticker TBT @ $60.50 stop at $57.32
Long 2 units of Ultrashort S&P ticker SDS @ 61.75 stop at $57.69
Long 2 units of Ultrashort Dow ticker DXD @ $57.85 stop at $53.79
Long 1 unit of US Natural Gas Fund ticker UNG @ $ 35.70 stop at $31.89
Short 1 unit Int'l Bus Machines ticker IBM @ $129.05 stop at $126.36
Short 2 units of Apple ticker AAPL @ $178.05 stop at $177.76
Short 2 units Salesforce.com ticker CRM @ $56.05 stop at $60.62
Long 1 unit of Agnico Eagle ticker AEM $60.20 stop at $55.89
Long 1 unit ATP Oil & Gas ticker ATPG @ $18.45 stop $16.98
Long 2 units Hecla Mining ticker HL @ $5.20 stop at $3.89

1 comment:

Anonymous said...

There is still hope in AMerica!!!No bailout...I repeat no BAILOUT!!