State Of Confusion

By: Bill West | Sat, Jul 18, 2009
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7/18/2009 1:01:08 PM

Hello Everybody

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Trade Actions:

Buy INP ( India ) @ 48 or better

Market Outlook/Potential Opportunities:

We had to get out of our short funds. I saw the possibility of this up move and should have had some protective stops in place to soften the damage. We did manage to get a profit on one short.

There seems to be a little confusion about Short Funds and Ultra-Short. When I say buy a Short Fund, you are to go Long the Short Fund, which means you are in effect Short that sector. This gives some accounts in an IRA the ability to be short without actually selling short. There are times where we might even issue a Sell Short position. We might even be doing that on an Ultra ( Short or Long ) Fund. Reason is: These Ultra's could lose value even if the Market is flat. That is why when you buy an Ultra you need to time it really good. Back to my last recommendation. We were long short funds. We needed to close those positions. Meaning sell to close out the position. If I want to reverse the position, I would issue a sell to close and another sell-to-sell short. In this last case it would of put us in a net Long position.

I know it is confusing but the stops on our last 4 positions might help a little. These prices must hold on our sell stops. Otherwise it is possible that I might issue another sell on these and get short. Or I might issue a Buy on a Short Fund to get short. We will see how the week progress.

Current Long Portfolio:

Long GAZ Natural Gas @ 45

It closed at 15.8

Sell Stop @ 14

Long USO ( Oil ) @ 32

It closed at 34.2

Sell Stop @ 31.5

Long GLD ( Gold ) @ 88

It closed at 92

Sell Stop @ 88

Long GLD ( Gold ) @ 90.1

It closed at 92

Sell Stop @ 88

Current Short Portfolio:


Recently Closed Positions

Bought SBB @ 51.6
Sold SBB ( Short SP Small Cap ) @ 49

Bought @ 62.5
Sold SZK (Ultrashort consumer goods) @ 59

Bought SRS @ 18.1
Sold SRS ( Short Real Estate) @ 19.4

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Thank You

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Bill West

Author: Bill West

Bill West
Fat Pitch ETF Advisory

Bill West

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