Wednesday, October 20, 2010

Long the Dollar

Much like Mark Twain's quote "the reports of my death are greatly exaggerated" so too are reports of the U.S. dollars demise. I am comfortable getting long the dollar this morning via the Powershares US dollar bullish  ticker UUP here at $22.46. I am comfortable enough to get long 2 units today rather than my customary 1.  

For what its worth I would remind readers that all these debts circling the globe from the mother of all credit bubbles have 2 resolutions, to be paid back or defaulted upon. Sometimes lost in the discussion and soundbites is that the vast majority of these debts are denominated in U.S. dollars.

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 @ $60.30
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 @ $42.45
Long 1 unit Ultrashort Real Estate ticker SRS @ $49.10
Long 2 units Direxion Tech 3X Bear ticker TYP @ $52.60
Long 1 unit ishares Barclays 20yr Treas ticker TLT @ 92.15 stop @ $98.74
Long 2 units U.S. Dollar Bull ticker UUP @ $22.56 stops @ $21.94/$21.44
Short 1 unit American Express ticker AXP @ $39.45 stop @ $40.51
Short 1 unit Apple ticker AAPL @ $312.25 stop @ $315.37

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