Tuesday, October 30, 2007

Update on ‘People Trading BIDU Also Traded…’

Apropos of my earlier comments on China and the FXI, I feel compelled to made two additional observations:

ProShares just announced a new ETF that targets double the inverse of the FXI. The UltraShort FTSE/Xinhua China 25 (ticker FXP) is slated to launch sometime in November – and should provide a wild ride for anyone tall enough and brave enough to get on this roller coaster.

Given that BIDU is trading up some 14 points as I type this, I have updated the optionsXpress Trading Patterns feature (“People Trading BIDU Also Traded…”) which I first posted about a month ago. Many of the names are the same; this also has the appearance of a who’s who of speculative momentum trading.


Finally, I am officially neutral going into tomorrow’s FOMC announcement, but whichever side you are playing, be sure to fasten your seatbelt and cut your losses before they run away from you.

4 comments:

Anonymous said...

playing it moderately short.

Finger on the trigger...any idea what time the announcement comes out?

Frankie

Bill Luby said...

FOMC announcements are 2:15 ET

z-stock said...

china up 600%..still has another 1400% to go before there's a bubble
get real, quit reading greeenspan
zee

Anonymous said...

There is just tooo much money to be made today,, to let it go unnoticed,,in the pm this morning
i would not be far off if i picked a number like 5k,,,just in premarket!!??

happy trading

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