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30-Jun-09
Added More FAZ, AAPL PUTS, and FXP
I'm up to about 50% of my equity short the market now risking today's lows. I really believe there is a disconnect with what is going on in mainstream America and financial analysts on Wall Street.
Technically this could be a big break down in the S&P 500 and if we get confirmation in the next few days we could see a lot of profit taking. I don't think too many people will want to get long before a long weekend so there should be a shortage of new buyers.
My entry was a total fish on AAPL puts, but $12 looks pretty good on $155 July Puts and now I have no risk there with stops at almost break even.
I added 50% more FAZ and I'll move stops below today's lows. FXP looks like it's breaking a downward trend and I'll risk about 50 cents there.
Good luck to all!
Posted at 11:20 in External Blog | Permalink | Top
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