I am just getting into currencies, not brave enough to trade FOREX yet so have been looking at trading calls on ETF's. This tremendously reduces my risk and exposure but keeps me in tune by trading for real. If the euro/dollar can manage a close above $1.3307, the 50-day simple moving average, get out of EUO calls and long the Euro. Shorting the USD is the next currency play. American debt is mounting and may potentially lose its triple A credit rating...
So le'ts review one of the top calls made this year, AAPL. My post here had us in the 2011 Jan 200 Calls: http://www.sharkwatertrading.com/2010/03/aapl-2011-200-call-update-others.html when they were approaching 31$.Currenlty they are trading at 148$, a 500% return for the year if you kept them!
Citi is performing as expected. Need to watch Tuesdays earnings report. I recommend selling in the a.m. if you are happy with your profits or holding steady for the rise to 6 this year. Good possiblitiy of a pullback if they don't hit all investors expectations but should hold steady around 5 before next round of news could push it higher... Need to see the improvements to see the movement.
Happy Trading...
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