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Andrew Crowder
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Over the last few years I have worked diligently towards refining several of my favorite and most successful stock options strategies. My hard work and diligence have proven to be a success and now I want to share my ideas and strategies with a limited group of like-minded investors. My options... More
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  • FXI Trade looking up, while SPY and TZA positions still down. 0 comments
    Oct 19, 2010 12:56 PM | about stocks: FXI, SPY, TZA

    The FXI trade that I placed yesterday is showing great promise after the surprise rate hike by China that was announced early this morning. Now  if the S&P 500 (NYSEARCA:SPY) could follow suit it would be a wonderful day.

    The gap closed in AAPL so now I think we could begin to see the downturn that we bears have been anticipating. The $116.72 area is still acting as a strong area of support (hit it again this morning) so that would be the first obstacle. If SPY can manage to push through that area then I suspect that we could see a decent move to the downside. However, if the market is able to pick back up and move above the $118.70 area then I think all bearish bets are off.

    I have so much to say, but not enough time right now, so stay tuned as I will be back later today with more posts.

    Kindest,

    Andy


    Stocks: FXI, SPY, TZA
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