Wednesday, November 26, 2008

Feeling the holiday/bailout lovefest but don't overstay your welcome....

I am buying another 15% of my FXP position here at sub $ 54(Have 40% in place). Will add another 30% at sub $45 and the last 30% at sub $35 (THIS RALLY MIGHT BE POWERFUL ENOUGH TO GET US THERE!!!)

FYI The VIX is at 56'ish but IT WILL NOT GO BELOW 45 (THAT'S THE MAGINOT LINE)


Then again maybe I shouldn't use the maginot line as my metaphor for the VIX since it was ultimately flanked by the Nazi's (who invaded France through Belgium) and proved to be an ineffective/imaginary defense ;-)

P.S. Still holding onto my long term value picks: GFA, APWR, GU (added a little to this one at $2.11)

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