Wednesday, March 25, 2009

Some Stop Management

Okay just a few housekeeping notes given all that is going on.

You might be asking some of the following questions. Aren't we in a rip roaring rally? So why the heck is he shorting equities? Especially so given the bottom is now in according to CNBC's Mark Haines.

Well, to start with, I cannot get my head around what is transpiring in Eastern Europe, what is happening on the employment front, what is happening on the commercial real estate arena, which by the way is truly horrifying, and what has been transpiring in the bond markets both domestic and global.

The U.K. bond auction failure is not a one off event as the Germans, if memory serves me, experienced one back in January. Sure Armageddon did not occur, so that's reason to ignore the evidence? Or worse to jump into equities as most TV shills would have you do?

Given all this, I must respect the overarching need on the part of the short bus riding equity boyz to juice this market for all they can. So, accordingly I am raising my stops like a nervous nelly in an attempt to be defensive.

I am raising my stop on TBT to $43.74
I am raising my stop on SRS to $47.86
I am leaving my stops on the remaining positions alone.

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 Ultashort 20yr Treasury ticker TBT @ $44.25 stop @ $43.74
Long 2 units Ultrashort Real Estate ticker SRS @ $49.85 stop @ $47.86
Long 1 unit Ultrashort Financials ticker SKF @ $91.40 stop @ $88.19
Long 1 unit Ultrashort S&P500 ticker SDS @ $74.85 stop @ $72.38
Short 1 unit Microsoft ticker MSFT @ $19.20 stop @ $19.20
Short 1 unit Apple ticker AAPL @ $107.30 stop @ $109.82

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