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PowerShares DB Commodity Double Shrt ETN Message Board

  • bobbobwhite bobbobwhite Dec 15, 2008 1:01 PM Flag

    As my buy point is $40

    I won't even think of selling unless DEE falls through its 50 DMA at less than $40.

    Reason: HALF of hedge fund holdings still left to sell to cover redemptions....$1 tril. Will take a long time to unload at low prices w/o dropping the market much lower than it is now. However, another 1000 Dow points lower is probable. A very long and slow recovery from there will take years.

    If the Dow since 1870 was steady up at a constant instead of its many hills and valleys over that time, it would be 6000-7000 now, not 14,700. Is that a clue?

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    • Clarification: 50DMA is now over $50, not $40, but would drop to below $40 if a steady downtrend occurred toward my stated potential sell point, but not if a precipitous drop occurs. If that happened, DEE would slash through the present 50DMA very quickly and be a sell candidate before a new 50DMA could be calculated at $40.

      Sorry if I misinformed earlier.

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