Thursday, 26 July 2007

UltraShort ETF Benefits From Crude Blow-Off

Well, I sure feel good about that DUG UltraShort Oil & Gas position right now! Up 8.11 percent at this point on the day. If USO and OIH close down for the week after making their highs, this would probably qualify as a blow-off top.

I also like my SDS UltraShort S&P 500 position - up 5.22 percent right now. I fortuitously sold my QLD Ultra NASDAQ-100 position yesterday because I needed to raise a little cash for some other projects. Of my equity positions, I felt this one was the least robust, so it's the one I decided to dump. (See the "Trading Setups" link above for details on all my setups based on the Commitments of Traders reports.)

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