Thursday, March 19, 2009

Punting the S&P 500 and the Long Bond

I am getting long 1 unit of the Ultrashort S&P500 ticker SDS here at $79.80 with a stop at $75.58 based on what looks to be a double top on the SPY 60 minute chart.

Basically I am prepared to fade this smoke and mirrors rally.

I am also prepared to punt the long bond on the short side via the Ultrashort 20yr Treasury, ticker TBT here at $44.15 with a stop at $42.17

Charts on these will be posted ASAP.

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 S&P500 ticker SDS @ $79.90 stop @ $75.58
Long 1 unit Ultashort 20yr Treasury ticker TBT @ $44.25 stop @ $42.17
Short 1 unit Apollo Group ticker APOL @ $82.95 stop @ $72.54
Short 1 unit Microsoft ticker MSFT @ $19.20 stop @ $19.20

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