Tuesday, March 30, 2010

NEW TRADES FOR WEDNESDAY ARE UP

There's quite a few longs and shorts and inverse longs as well. Take a look and be careful-the last few are all homebuilders and you don't want to be overly correlated- especially to the dollar (ex: commodities, metals, oil, financial, tech).

MVIS

This one at $2.74 (assuming it can hold that level on a close) looks like a decent quick long.

UUP Going UP

The ETF for the Dollar Index pulled back as I suspected it would, I didn't think it would only last 2 days. In any case, I believe it can be bought here and now with the caveat that it closes above $23.92; if so then you can hold it and place an initial stop below $23.83.

If the dollar is moving up, now would be the time to go back and take a look at my recent short ideas among energy and commodity related issues.