Wednesday, July 22, 2009
I am getting short the S&P here via the ultrashort proshares, ticker SDS. I am long 1 unit here of SDS at $50.90 with a stop at SPY $96.11
For many you might be thinking regarding the above SPY chart "where have I seen that before?". It is the "2B" move courtesy of Victor Sperandeo in his book Trader Vic, Methods of a Wall Street Master. Don't be fooled by the cheesy title as it is a great read today as it was back in the early 90's.
So one might say I am short the S&P by being long the SDS courtesy of the 2b move on the spiders.
Good speculating and remind them to please don't ever forget that "an investor is a speculator who made a mistake and will not admit it".
Long 1 unit Ultrashort Real Estate ticker SRS @ $18.85 stop @ $17.84
Long 1 unit US Gold ticker UXG @ $3.05 stop @ $2.28
Long 1 unit Ultrashort S&P500 ticker SDS @ $51.00 stop @ SPY $96.11
Short 2 units Wells Fargo ticker WFC @ $25.10 stop @ $26.26/27.41
Short 1 unit Apple ticker AAPL @ $158.15 stop @ $162.11