Friday, October 02, 2009

Trades!

sold ABX @ 35.97, +9%

If the dollar goes up, as I expect, short term gold is overbought. Just locking in the gain.

Buy 5% SKF @ 26.82.

This is a leveraged ultrashort, so it's actually a 10% position in terms of risk. The FDIC is broke
and the banks are going to do well for the rest of the year? You're kidding, right?

Short 5% URBN @ 29.12.

This is a retail short. RTH is hard to borrow, as is Abercrombie & Fitch and J. Crew. This was my third
choice, so it'll have to do. I expect retail to be under pressure while jobs losses continue.

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