Thursday, September 24, 2009
Based on the outside reversal, or bearish engulfing candle (if you prefer), which occurred yesterday on the financial spiders ticker XLF, I am prepared to get long the Ultrashort Financial ticker SKF this morning here at $24.45 with a stop just below the recent lows.
Good speculating and please remember to never forget that "an investor is a speculator who made a mistake and will not admit it".
Long 1 unit Ultrashort Russell 2K ticker TWM @ $27.50 stop @ $26.40
Long 1 unit Ultrashort Financials ticker SKF @ $24.55 stop @ $23.49
Short 1 unit I-shares Russell 2k ticker IWM @ $61.70 stop @ $63.80
Short 1 unit Costco ticker COST @ $58.00 stop @ $60.11
Short 1 unit Vornado ticker VNO @ $68.30 stop @ $70.71