Buy: FAZ

Full position in FAZ at 43.64. This is a play on momentum fading, people flipping obscene profits in a short timespan and people riding the market down using this time as an opp to gracefully exit from the claws of the bear market.

FAS: sold

@ 4.22.

We're due for a pullback. Sittin' on the sidelines, for now

repurchase FAS redux

@4.02

Stopped out

Stopped out of FAS@ 3.91

repurchase FAS

@4.02

Sold: FAS

closed the position at 4.14.

Covered: PACW/Purchased FAS

Near the close, I completed the following transactions....

PACW:
Covered @11.03
Gain: 22%

Purchased FAS@3.72
This holding is a partial position(1/2 of typical size).


Elevators don't go straight down and humans are an eternally optimistic bunch.....We could see 10-20% upside if the uptick rule and/or mark-to-market accounting are overturned....Plus, lest I forget, there's a TON of cash on the sidelines...enough to equal the entire market cap of the NYSE.

A trade!

Sold GS short for 6% loss. Reinvested all proceeds in an old favorite, PACW(short)at 14.08.

Euro

Stopped out of position.

Buy: around 1.28
Sell: around 1.25

Dollar short/Long Euro

I've been building a long Euro position this evening in the low 1.28s. This is merely a trade with a short term target of the mid 1.30s. My stop on the position is staggered in the vicinity of 1.25.

Read My Lips: The US dollar will out perform the Euro in '09

George Washington is back in the doghouse. And while many will count today's horrific employment data as one more reason supporting the devaluing of the Dollar in 2009, they are overlooking the alternative across the Pond. A 7.2% unemployment rate is awful(yes, I realize effective unemployment is much higher), however, the Eurozone concurrently rings in with a paltry 7.8%. And while the economic woes of New York, Michigan, and California have made them the bane of our nation's health, Euro member states have equally large obstacles on their plate in the form of Greece, Italy, etc.
GDP figures should always be viewed with a wary eye. After all, government outlays(financed by debt) are counted in the figure. But, with all players using similar rules, it provides a benchmark for comparison. The following select data presents public debt as a percentage of GDP.

1. Italy 104%
2. Greece 89.5%
3. Belgium 84.60%
4. Norway 83.10%
5. Germany 64.90%
6. France 63.90%
7. U.S 60.80%

The economic duress bearing down on all corners of the globe is no secret. However, in both categories of faith in their system and facts, the U.S. bests Europe. Despite Hank and Ben being portrayed as impotent, China, amongst others, still yield to their policy, for the time being. Alas, don't forget the tear gas indicator. The mere fact of Greece having to seek reinforcements of the crowd control agent should raise red flags!