TAKING PARTIAL PROFITS ON POWERSHARES QQQ (QQQ)
Taking profits on a 10% tranche of PowerShares QQQ (QQQ) right here at $52.86 against this morning’s tranches.
September 6, 2011
Taking profits on a 10% tranche of PowerShares QQQ (QQQ) right here at $52.86 against this morning’s tranches.
We are taking profits on the tranch from this morning on Pan American Silver (PAAS) right here at $32.82. We will maintain short on rest of the position. In this volatile environment, it is best to book profits often.
We added a 5% tranche in Pan American Silver Corp (PAAS) at $34.05.
CurrencyShares Swiss Franc Trust (FXF) is falling as Swiss National Bank pegs franc to euro. Our highest short tranche on CurrencyShares Swiss Franc Trust is from $139.50. In this volatile environment conservative investors may want to lock in gains at $115.69. Aggressive investors may continue to
In view of the three day weekend, we are concerned about short covering this afternoon and on Monday in Europe and Asia. Our plan is to lighten up a little bit. We will exit the tranche on GLD from this morning entered at $182.10 right here at $182.45.
Fininsar (FNSR) reported better than expected earnings and gave better than expected projections. We are initiating a long position in JDS Uniphase (JDSU) as a sympathy play to Finisar. Our entry in JDS Uniphase is at $12.82. The plan is to add more to JDS Uniphase if