Wednesday, March 31, 2010

Mystery Chart of the Day

Regular readers know I often recommend one take a chart and remove or black out the names, numbers and dates as to remove the inherent bias one may have to a index, sector, company, or commodity to assist in determining once stance, bullish or bearish..

The chart below has the name, dates and prices removed. Anyone care to guess which way price action went from here?



I will post the original chart soon as well as what happened next.... unless it is a current, rather than historical chart, which we then will have to wait for it to play out.


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 @ $60.50
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 2 units Direxion Tech 3X Bear ticker TYP @ $10.52
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $21.97
Short 1 unit Daimler ticker DAI @ $52.23 stop @ $52.23



1 comment:

Anonymous said...

With TZA at $7 and FAZ at $13, are you still a "speculator" in those shares? How high do you see them going to warrant holding on to them through thick and thin? Thanks