Tuesday, January 5, 2010

Quick Look at UUP

Just wanted to bring your attention to the dollar, in this case the UUP (chart above). We seem to have a nice low volume consolidation that is correcting the recent sharp run up off the lows. We should pay attention to the $23.25 area as a move up thru this would be very encouraging to dollar bulls.


Yesterday I was stopped out of my IWM position at $63.80 for a loss of just over 2pts on 1 unit.

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 2 units Direxion Small Cap 3X Bear ticker TZA @ $12.06
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $6.05
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $8.49
Long 1 unit Ultrashort Real Estate ticker SRS @ $9.82
Long 1 unit Direxion Tech 3X Bear ticker TYP @ $10.68
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $21.97

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