Thursday, November 5, 2009

The Dollar

A couple of very interesting developments have occurred on the UUP, which is the U.S. dollar bull fund. The down trend line was broken to the upside back on Oct 26th on better than average volume. Next up, we have since backed, filled and tested that break out area, and today have blasted off that area with monster volume. For what it's worth, volume today was the highest in UUP's history and this speculator is paying attention to it.

I am also paying attention to the lacklustre volume in all the major indices tracking shares. The SPY's, the IWM's, the DIA's and the MDY's all experienced lower volumes today as the cheerleaders rejoice. The one exception is the QQQQ's which had heavier volume, attributable to Cisco, who knows, who cares. I only am noting that 4 0f the 5 index tracking shares showed significantly lower volume on today's rally.

Ahhh what the heck, maybe this is just all useless drivel and one should just stop thinking and simply buy the dips like Bill Miller over a Legg Mason likes to do with pensioners money. (or maybe not!)

Good speculating to you all and please remember to never forget that "an investor is a speculator who made a mistake and will not admit it".

Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 1 unit Direxion Small Cap 3X Bear ticker TZA @ $11.35
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $6.05
Long 1 unit Direxion Financial 3X Bear ticker FAZ @ $19.09
Long 1 unit Ultrashort Xinhua China ticker FXP @ $8.32
Long 1 unit Ultrashort Real Estate ticker SRS @ $9.82
Short 1 unit i-shares Russell 2K ticker IWM @ $61.70 stop @ $63.80
Short 1 unit Vornado ticker VNO @ $68.30 stop @ $70.71
Short 1 unit Bed Bath ticker BBBY @ $37.75 stop @ $38.41

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