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10/30/2008

Buying Calls on FXP

OK, here's a mind-bender......I am buying a derivative instrument based on an ETF which is double-inverse a foreign-based index. Phew! I'm seeing $CZH approaching a Fib resistance and fan line........

So, although it may have a little more to fall, I'm banking on FXP moving higher.

Before you anal types point out that FXP isn't based on $CZH..........I already know that. But close enough.

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