FXP Update and Stock Buy Tips for Tuesday, October 21st
Posted On Tuesday, October 21, 2008 at at 9:44 AM by ChrisYesterday I discussed a move I made to buy into FXP, an Ultrashort ETF fund, that shorts the China Stock Market. For more about this ETF click here. Yesterday the buy in was close to $90. Currently it is trading at $101.39, up 12.92%. I plan on holding this for a bit until we see it hit $120-130. This is one of several ETF shorts I have been playing, which, as you can see, have been performing very well and act as a great hedge for your long securities that you may still be holding onto to not take the loss. Today, the market is reacting to a variety of poor earnings reports, which, in my opinion, there will be a lot of this month. With that, Apple (AAPL) is down close to 5%.
Don't lose faith in Apple quite yet. I still like apple as a buy, especially as a call option. I think they should weather well on their earnings report today after the close and we should see a good 6-15% jump in their stock tomorrow. Of course there is always the chance they do not perform up to market's expectation, I just don't find that very probable with their fundamentals. Pending on earnings reports tomorrow, we could see a pretty healthy rally, especially in the NASDAQ.
Another play worth noting is oil. In playing oil, I play the stocks DIG and DUG. DIG is an Ultra Long choice and DUG is shorting the Oil sector. Oil has taken a beating this past month, reaching their 52 week low. It is down another 5.71%, reaching $70 dollars today. A lot of this is due to lack of demand from Countries like China and India, as well as the weakening dollar. However, OPEC, the body which oversees Oil production, has a critical meeting tomorrow where they will decide if they will cut production of oil, and if so, by how much. I am expecting a pretty decent cut in production, which should cause some upward momentum in oil. DIG is currently trading at about $30 per share. Consider bulking up on some DIG share for a nice healthy bump tomorrow.
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Now as such we all know that in India Elections are just around the corner which would inturn effect the movement of the
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This blog is quite nice and informative, it is our pleasure to post a comment on this usefull blog created by a webmaster
Now as such we all know that in India Elections are just around the corner which would inturn effect the movement of the
Indian Stock Market which means the time has come when a common man should start thinking of investing in the Indian Share Market
which would help him to increase the invested amount because one should not avoid the Opportunities come in Daily Life
We welcome your Quieries at
KnowYourProfit
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