Wednesday, May 26, 2010

Bookkeeping: Selling Majority of Remaining Powershares DB US Dollar Bullish (UUP)

I am going to sell about 90% of the remaining stake in Powershares DB US Dollar Bullish (UUP) - it has been a heck of a run for a currency to move like this, and certainly there is nothing to complain about in the chart. I am hoping for some sort of pullback to re-engage at a lower price but if not, I'll rebuy on a new breakout over recent highs - roughly $25.60s.

Today we'll sell a 0.9% exposure around $25.35 - again not 'fast money' but this has been an effective hedge during times of market angst.

Long Powershares DB US Dollar Bullish in fund; no personal position


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