Tuesday, November 11, 2008

SOLD! FXI put... DUG regret... Economy numbers this week.

Well, i set the trigger to sell if it spiked into profitable territory. Unfortunately i missed another leg lower. Still it served me well. There are some points of resistance heading downward, so caution is advisable.

DUG calls (and obviously FXI puts) were on my mind all day yesterday. If oil <60, it would mean it could go to 40. I will wait for the end of the trading day to decide whether i want in or not. I would guess that a DUG OTM call would be a cheap way of catching some momentum related to news this week:

Thurs, Nov13 has jobless claims numbers
Fri, Nov 14: oil, retail...

In scanning a few stocks... it seems SOHU is a nice replacement for anything China (FXI). I will consider them at the close as well.

Watchlist: DUG calls, FXI puts, SOHU puts. (UPDATE: bought HK dec 17.5 puts)

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