Bought Some XLF - very dangerous, is still in a down trend
XLF 2000 at 9.03 stop 8.8
Without the financials it will be very difficult for the market to rally.
Tuesday, February 3, 2009
February 3rd Update
DIA- after a drop from 84 to 79, from my point of view i won't consider any short position, but it is not the place for a long trade. Any long position under 84 will be consider as very short term .
GLD- the gold in my opinion is a bubble but like any bubble can still go much more higher.
A good ETF for the short side is the GLL the double short .
EUR/USD- the dollar is in clear up momentum against the euro , braking the 1.24 we can see much lower prices. long position against the dollar only above 1.32
February 3rd Market Review
Current portfolio - 100,000$
Open position -
SPY- look bad long above 85 and short under 80.
Open position -
QQQQ- encouraging , long will be taken above 29.5
XLF- the financials above 9.4 -9.5 will be interesting for a long trade .
SPY- look bad long above 85 and short under 80.
USO- the oil is still neutral, no sing for a long trade yet, maybe above 30.
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