Wednesday, August 26, 2009

Short the Semi's

I have been watching the Semiconductors the past few weeks which one can do via either the Philly Semiconductor, ticker $SOX or the Semi holders, ticker SMH. Whichever you choose, they seem to have diverged, negatively, as the S&P500 has made new highs and yet they(semi's) have not. While the semis still may confirm, they have yet to do so.

Based on this I am prepared to punt the semiconductors short here. I will do this via the proshares ultrashort semiconductors ticker SSG. I am getting long the SSG here at $24.90 with a stop just below the recent lows.

I will post some charts shortly on this.

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".

Open Positions:
Long 2 units Ultrashort FTSE/Xinhua China 25 ticker FXP @ $10.58 stops @ $9.94/9.54
Long 1 unit Ultrashort Real Estate ticker SRS @ $11.93 stop @ $10.94
Long 1 unit Ultrashort Semiconductors ticker SSG @ $25.00 stop @ $24.32
Short 1 unit JP Morgan ticker JPM @ $43.66 stop @ $44.71

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