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Strategies & Market Trends : Strictly Buy and Sell Set Ups
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To: chowder who wrote (8753)3/29/2006 4:30:53 PM
From: profile_14  Read Replies (1) of 13449
 
Dabum,

Do you see the high volume red bar in RIO as a problem from a short term and long term perspective from the long side of the trade? We unsuccessfully tested the 50 day moving average.

I traded my RIO puts yesterday for a very nice (40%) gain and reloaded my position today, but with twice the size. In effect I am net short RIO while holding LT shares. Last year and the year before last and so on, RIO peaked in late March or early April only to lose significantly over the following month and one-half. I anticipate something similar this year, in part helped by selling in foreign exchanges and the unwinding of the carry trade world wide.

Thanks in advance for your thoughts.

Best,

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