Tuesday, November 4, 2008

Getting Short the Spiders and Russell 2K

The Russell 2000 tracking stock, ticker IWM (chart above) looks ripe to roll over and I am punting it on the short side via the Ultrashort proshares ticker TWM here at $93 with a stop at IWM $56.31

I am using the strength of late and especially today as an opportunity to get short the Spiders ticker SPY (chart above). I will use the ultrashort proshares ticker SDS as the vehicle to do so. Volume has noticeably waned on this week long rally of the Spiders.

I am long 1 unit SDS here at $81.75 and will use any violation of SPY $100.81 as my stop on the SDS position.



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 of Ultrashort S&P500 ticker SDS $81.85 stop @ SPY $100.81
Long 1 unit of Ultrashort Russell 2K ticker TWM $93.10 stop @ IWM $56.31
Short 1 unit Apple ticker AAPL at $110.90 stop at $113.53
Short 1 unit Salesforce.com ticker CRM @ $56.05 stop at $34.31

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