Smoking Securities

Half Baked High Finance

Smooth Sailing

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Today was perfect. Everything I’m dabbling in was on the up and up, except for the Swiss Franc FXF. SLV and IAU continue to make new highs, and I started a position in DGP. Even the double inverse funds made new short-term highs. DBA rebounded above 42, even though UDN failed to close higher after a very strong open. GDX, SLX and EEB recovered some of their losses, and remain technically sound, but close to danger.
The skinny of the story is, I’m having cake and eating it, and there is plenty more to go around if the trend towards hard assets remains intact. Financials took another step towards failure today, and if the home builders follow suit, this will be a panicky drop to the January lows.
Pairs idea: Double Gold w/ DGP (26.36) and Double Short Financials w/ SKF (121.50). Equal weight.


Written by chucklesamadeus

March 3, 2008 at 7:13 pm

Posted in EEB, FXF, IAU, LX, SKF, SLV

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