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Wednesday, October 5, 2011

looking to trade - GS, FXE, and market

The market seems like it wants to move up here, maybe toward the 1165 level.

This could be beneficial for stocks with relative strength today. (AAPL, GOOG, QCOM, SU, POT, etc. I was surprised to see IBM break from its relative strength mid day.)

Out side of the above, there are a few trades I am seriously considering.

1. GS - I think GS, and all financials, are going to get a pop with the EU action. Because of the chatter we are seeing, I think it will happen sooner rather than later.  I am just looking for a move that will start the bottoming of the US financials, maybe to 104.

I will look to take this on before the weekend.

2. FXE - With the euphoria of the EU action, the Euro may get an additional pop. (Although with this pop currently happening, I am tempted to take some of it on now.) After the pop, the FXE will continue its fall.

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