Comments on: Andrews Pitchfork Bounce for SP500 Update

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By: terlyn

terlyn — Fri, 06 Nov 2009 03:19:55 +0000

Insider Trading: Yesterday, I heard on the radio that investors were buying UUP calls. Now this action today. Here is an article calling it insider trading:

http://seekingalpha.com/article/171618-insider-...

By: terlyn

terlyn — Fri, 06 Nov 2009 03:03:31 +0000

Just saw this news, and I bought UUP yesterday:

NEW YORK (Dow Jones)--Deutsche Bank AG (DB:$72.25,00$1.38,001.95%) (DB, DBK.XE) said Thursday that the PowerShares DB US Dollar Index Bullish Fund (UUP:$22.9400,$0.4300,1.91%) had run out of new shares and wouldn't be able to issue any more until it gets clearance from the Securities and Exchange Commission.
The move could lead the $822 million exchange-traded fund, which helps investors bet on the U.S. dollar against a basket of foreign currencies, to trade at a price that is substantially higher than its underlying value.
A number of ETFs that follow commodities like oil and natural gas have also had to suspend issuing new shares amid worries speculators are driving up commodity prices. It wasn't immediately clear why a currency fund would face the same problem.
-By Ian Salisbury, Dow Jones Newswires; 212-416-2241; ian.salisbury@ dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http:// www.djnewsplus.com/nae/al?rnd=BaSS0I8sNMINSIhDK.... You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires
11-05-091347ET
Copyright (c) 2009 Dow Jones & Company, Inc.

By: Corey Rosenbloom, CMT

Corey Rosenbloom, CMT — Fri, 06 Nov 2009 02:09:34 +0000

My gosh I picked up on that while watching Twitter feeds and have already put in a few phone calls to see why that might have happened. Not confirmed with the US Dollar Index futures which was choppy but flat on the session.

By: Dan de Man

Dan de Man — Fri, 06 Nov 2009 02:06:13 +0000

I could only guess that some new trader with access to a whole lot of money put in a market order if UDN did not move inversely.

By: terlyn

terlyn — Fri, 06 Nov 2009 00:44:47 +0000

Dan,
Thanks for your advice.
Terry