Stocks for the Rest of Us
Fast Money Review: FXB short, british pound
The Fast Money crew tonight recommended a short of the british pound via the FXB ETF. While I agree on the fundamental reasons for this I can’t get on board right now until the technicals line up with a more favorable risk/reward setup. The FXB has been in freefall. If you want to short this thing, wait for some strength and then short it. Shorting it down here will require a loose stop and if you’re wrong you’ll lose a lot more money. Stocks usually don’t go down in a straight line and it’s so far away from the 50 day moving average the chances of a bounce of snap back reaction rally are high. Wait for some strength to initiate your short.
FXB short
| Print article | This entry was posted by brian on August 28, 2008 at 9:48 pm, and is filed under Fast Money Review. Follow any responses to this post through RSS 2.0. You can leave a response or trackback from your own site. |
No comments yet.
No trackbacks yet.
Short PCU
about 1 year ago - No comments
Copper prices seem to be hitting new lows while the equities are still hanging in there. I’m shorting PCU at $12.44. It appears to be up towards resistance at the upper range of it’s down trend. You can keep a stop just above the 50 day moving average.
Short The Euro; It’s Going Lower; FXE
about 1 year ago - No comments
This thing is going lower, if it breaks 125 short it. The more times something bounces of support the less likely it is to hold.
XTO Short. Natural Gas Looks Good But The Equities Look Ripe For A Selloff
about 1 year ago - 1 comment
While I do like natural gas as a long I think the equities could be overbought. Take a look at XTO. This thing is bumping up on the upper band of a downtrending channel and has already failed to rally while the market was up today. Furthermore, the stock is getting up into the range More >
FXB Short update
about 1 year ago - No comments
If anyone took my advice on the FXB short I mentioned awhile ago now would be the time to take profits on that move. I recommended shorting on strength up to the 50 day moving average and that seemed to play out quite well for us. You could have executed the same trade with the More >
Take Profits On CSCO Short
about 2 years ago - No comments
I would take profits here on the CSCO short I recommended in an earlier post. We’ve caught about $3 of downside which is not bad for a few weeks work. In this market you’ve got to take what the market gives you. If you’re greedy you’ll get raped.
Fast Money Review: HD long position
about 2 years ago - No comments
Everyone on the show seems to like HD and it’s easy to see why. It’s actually UP YTD. In looking at the chart I would say wait for the stock to pull back a little bit before starting a position. 30 has been resistance for the stock a couple times in the past so there’s More >
Fast Money Review: UUP, US Dollar Trade
about 2 years ago - Comments Off
The Fast Money boys all like the USD for the last half of this year and so far that seems to be working out well. If you’re not already in I don’t think it’s too late. The dollar was beaten to death and has a long way to go during recovery. Wait for a pullback More >
CSCO short
about 2 years ago - 2 comments
CSCO could be a good short here. There were a lot of buyers at 25 who want their money back and the stock is definitely looking extended at this point. I think you could short it here for a point or two with a stop at 26 or so. Once the overbought condition is cleared More >