TAKING PARTIAL PROFITS ON POWERSHARES QQQ (QQQ)
September 6, 2011
Taking profits on a 10% tranche of PowerShares QQQ (QQQ) right here at $52.86 against this morning’s tranches.
Proven Track Record of Most Accurate Analysis
Proven Track Record
of Most Accurate Analysis
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.
Added to PowerShares QQQ (QQQ) a 5% tranche at $52.34.
We added a 5% tranche in Pan American Silver Corp (PAAS) at $34.05.
Added a 5% tranche in PowerShares QQQ (QQQ) at $52.02.
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 hold for further gains. We are taking profits on CurrencyShares Swiss Franc Trust right here at $115.69 but will continue to follow this position for aggressive investors who may want to hold for further gains.
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. We will also exit the tranche on silver futures (SI) from this morning right here at $42.92, equalent in silver ETF (SLV) is $41.80. We will maintain the rest of the short position.