Thursday, April 16, 2009

Long SKF and SRS yet again !

Crazy is as crazy does or something like that .....

Based on this I am getting long 1 unit of SKF here at $59.25.
I am also getting long 1 unit of SRS here at $26.95

Housekeeping notes;

I was stopped out of EEV position at $30.44 for a loss of about a pt on 1 unit

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 Real Estate ticker SRS @ $27.05 stop @ $25.24
Long1 unit of Ultrashort Financials ticker SKF @ $ 59.35 stop @ $57.38

3 comments:

macstibs said...

Bold move... can't say I blame you. It feels right here, but the SRS hit an all-time low. There's no technical bottom. Institutional money is panicking from what I understand. They may chase this market if it keeps moving away from them.

Harleydog said...

macstibs,

thx for the note. I prefer to more credence to the underlying chart rather than the derivative, so with the SRS I give more wight to the IYR and $DJUSRE charts and with SKF the XLF and $ DJUSFN. For what its worth.

and like I was taught the hardest trade is often the best one.

HD

Anonymous said...

http://www.cbc.ca/money/story/2009/04/16/general-growth-mall-bankruptcy.html

Commercial real estate - the next shoe to drop?