Riding The Gravy Train: selling FXP +24%, China Manufacturing Drops

Riding The Gravy Train

Beating the market is fun and profitable. This is how we do it.

Tuesday, November 22, 2011

selling FXP +24%, China Manufacturing Drops

More good news for our two levered short positions on China.

Click this text to read "China Manufacturing Shows Contraction".

We'll try to sell the most recent entry for no less than $34.84 which is 24% higher than our entry just two weeks ago. For more on that, see the posting below in this blog dated November 09.

When we diarized the trade, FXP was at $26.07 but when markets next opened it was unfortunately much higher at $28.10 so that's our entry price on this 2nd position.

We'd not want to be without a China short position, but markets may be due for a bounce so we'll book this big, fast gain and possibly re-enter this 2nd China short position later.







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