Tuesday, January 6, 2009

Testing the Waters Short




I am testing the short waters once again today via long positions in some ultrashort proshares. See charts above for some comments.

I am getting long 1 unit of the following

Ultrashort MSCI EAFE ticker EFU here at $88.70 with a stop at $84.67
Ultrashort Real Estate ticker SRS here at $53.35 with a stop at $49.46
Ultrashort Financials ticker SKF here at $102.50 with a stop at $99.47
Ultrashort S&P500 ticker SDS here at $66.05 with a stop at $63.77

Housekeeping notes;

I was stopped out of MCD at 64.25 for a loss of 2.5 pts on 1 unit short.


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 MSCI EAFE ticker EFU @ $88.80 stop at $84.67
Long 1 unit Ultrashort Real Estate ticker SRS @ $53.45 stop @ $49.46
Long 1 unit Ultrashort Financials ticker SKF @ $102.60 stop @ $99.47
Long 1 unit Ultrashort S&P500 ticker SDS @ $66.15 stop @ $63.77
Short 1 unit Darden ticker DRI @ $27.70 stop @ $30.12

2 comments:

TheBoogieMan said...

Hey Brother, I got short MCD and did not set a stop. Should I stay short or cover today.

Harleydog said...

Boogie,

Congrats on MCD. Massive bearish engulfing candle on the daily yesterday, with some volume.

Entry is easy compared to the exit! Jesse Livermore always counselled to let winners run and so do I. Please use stops, not doing so will catch up to you eventually.

Continued success to you.

HD.