Thinking about going long the dollar in IRA.
Stop would be recent low, 24.8, target would be a breakout above past high, about 29. However since this is a more 'boring' trade and my IRA account is only 10k, I might just wait for something more exciting. Currently, half my IRA is long FAZ, now thats exciting!
Friday, March 20, 2009
Wednesday, March 18, 2009
Tuesday, March 17, 2009
Monday, March 16, 2009
This post is just to vent. FAS is trading north of 5.7, I sold mine for 3.7ish, thats 2 points I missed, or more than 50%!! Tried calling the bottom, did a very good job (a little early), but then I did not have the balls to ride them up. Guess it is hard to have confidence in this bear market. I should work on that!
Thursday, March 12, 2009
We aren't even close to being 'overbought' here due to the pain stocks have taken recently. It feels like everyone has turned bullish, I am not sure if this is a good or bad thing, but the market is moving up with force. I think a good medium term play (1-2 weeks) is to short DTO the ultra long oil fund. If oil moves up or even sideways then this thing will come back to earth. Its a shame I sold FAS so soon, but I did not think the bulls had it in them for all this action. Maybe XLF has really put in a bottom, close to my prediction.
Posted by Sia at 7:35 PM
Tuesday, March 10, 2009
I am selling half of my first batch of financials for a slight loss (UYG). My overall position is in the green, so I want to reduce size. Hopefully I will be able to sell the rest of UYG for a slight profit by end of day and I will have my FAS left at an average of 2.74