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.


Anonymous said...

playing it moderately short.

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


Bill Luby said...

FOMC announcements are 2:15 ET

zstock7.com said...

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

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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