Tuesday, June 1, 2010

Update 6/1

The short S&P etf SPXU hit my buy point of $36.00 and closed today at $36.38. My long Indonesian etf IDX is still hanging tough, but I must say I'm getting nervous about anything long and I'm keeping my tight two cent trailing stop, which would put my stop point at $65.50, and I think we'll see this tomorrow as the markets ended the day at the lows. I'm still of the mind that we'll see 9,000 in the DOW by autumn. My short Euro etf DRR had a decent day, though it was rumored a central bank intervention stopped the Euro from tanking further. It seems that for whatever reason the Euro is unable to break south of $1.22, thererfore I'm going to exit the DRR trade on tomorrow's open.

Update 6pm:

I exited DRR at the open $56.52, near the day's high.. a profit here of $80. 00
I was stopped out of the SPXU at $34.00.. loss of $200.00
I'm going to redo my SPXU trade.. "buy" one hundred at $36.00, stop loss two dollars.
I'm also going to purchase one hundred YCS (short yen) on the open tomorrow with a two dollar stop loss; the expected new Japanese PM is known to favor Zimbabwe-esque money printing.

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