For those of you who follow me on Twitter, know that is where my daily investment activities and thoughts are posted. As of Friday, May 21, my investment position is basically neutral. That is, I am out of my shorts [DXD (Ultra-short on DJIA) and DZZ (Ultra-short on Gold)]. The DXD trade was purchased on May 10 for an 11.91% profit. The DZZ trade was purchased on May 17 for an 8.81% profit. I did take a position on UNG (Natural Gas Fund) on Friday and quickly sold it for a 2.51% loss. (I don't know why I even bother with natural gas. It has never been kind to me.) I am still long FXE (Euro) at $123.23 with a stop at $120.51. That position has a unrealized gain of 1.73%. The price objective (IMHO) for the FXE trade is $129-$130.
Overall, I am still bearish; however, the market is due for a bounce after declining 4% this week, which is the rationale for selling my bearish positions. I plan to reinstitute the DXD position and probably add SDS and TWM to it when this rally runs its course.
For those of you that track the exponential moving average (EMA) strategy, I will have that updated later this weekend.
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