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OfflineCosmicLion
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Re: Stock Update for February 17, 2010 - Resistance, Stops & Shorts [Re: Hotnuts]
    #12052475 - 02/18/10 07:55 AM (13 years, 11 months ago)

Quote:

Hotnuts said:
You better tighten up those stops! Stocks and certain commodities, are about to get thumped.




:thumbup: :thumbup: :thumbup:

We are entering a heavy stage of bear activity. Get ready to go long on the USD as the stock markets head south.

Get your short ETF's in action!

My personal favorite is ProShares UltraPro Short S&P 500 (ETF) with the symbol SPXU

This is a 3x Leveraged ETF that responds 300% in the opposite direction of the S&P 500. This means if the S&P 500 does down 1%, SPXU goes up 3%.

I am a fiend for leverage so I like the SPXU. A safer S&P 500 Short can be made through an inverse 200% SP500 ETF such as SDS


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:peace:    :peace:

  Earth's Essence


Edited by CosmicLion (02/18/10 02:11 PM)


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OfflinegeokillsA
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Re: Stock Update for February 17, 2010 - Resistance, Stops & Shorts [Re: CosmicLion]
    #12053831 - 02/18/10 12:53 PM (13 years, 11 months ago)

I've been stopped out of my leveraged short position in TWM this afternoon, but will be looking to reload incrementally, if we continue to melt up through 1108, 1115 and 1150 on the S&P.  In the opposite direction, I will be looking to add to short positions if the S&P breaks below 1100 and subsequently 1095.  For now, just tightening stops on trading longs and watching the profits roll in.  Potash (POT), initiated February 5th, is now up a handsome 15% in under two weeks time; with prospect Capital (PSEC) up 8% from my basis in addition to offering me a 15.6% annual dividend yield.

Here is a list of the short vehicles I use most often to help me protect my portfolio during downtrends or whenever it seems that the market is becoming increasingly overbought and may be ready to correct:
  • S&P Short ETFs:  SH (1x), SDS (2x), and SPXU (3x)
  • Dow Short ETFs: DOG (1x), DXD (2x)
  • Russell 2000 Short: TWM (2x)
  • Emerging Markets Short: EDZ (3x)
  • China Short: FXP (2x)
  • Financial Short: SKF (2x), FAZ (3x)
  • Large Cap Short: BGZ (3x)


You can also visit this page to find more options.  Just try to choose one that trades with a decent volume of shares daily, and make sure you bail quickly if the tide turns against you! 

If you are not familiar with how these leveraged ETF's work, read this to learn why these instruments are statistically more likely to be more destructive to your portfolio than constructive, if held over extended periods of time during intermediate and long-term market fluctuations.

And last but certainly not least, a poignant post I scoped out over on RealMoney Silver:

Quote:

Stay Alert
By Rev Shark
RealMoney.com Contributor
2/18/2010 2:00 PM EST

The major indices are staying in positive territory but I'm fighting to stay awake. The action isn't bad
but it isn't very lively.

As I said in my earlier post, I'd be happy to do some buying if I could find some things I like, but we
have been up about eight days in a row and potential longs just don't offer good entries.
Unfortunately, just because there is a shortage of longs doesn't mean that there is a good supply of
shorts. We just aren't rolling over, and there is no momentum to the downside.

One of the secrets of successful trading is to be able to stay patient during the times when the
market isn't doing much but to move quickly and decisively when conditions change. Many traders
think they have to be in constant motion, and that causes a lot of churning when the market is acting
like this. Of course if you are too patient and slow to move when the time is right, you're going to
miss out on opportunities.

Trading is often like a war. There will be hours of boredom interrupted by moments of terror and
euphoria. The important thing is that we stay vigilant and be ready to act when the time is right. Just
don't let boredom drive you to trade things just to stay busy.





The Squeeze Is On
By Rev Shark
RealMoney.com Contributor
2/18/2010 2:48 PM EST

As soon as I wrote a post discussing how boring the action was, we suddenly exploded higher. I
guess that is why we have the old saying, "never short a dull market". And a short squeeze is
exactly what this is looking like.

We've now managed to move over 1105 on the S&P500 and are on the cusp of testing the 50-day
moving average at 1108. That is the last major resistance level before the old highs at 1150.

I've heard a lot of speculation about the market holding up so well because of pressure for the
S&P500 to be pinned at 1100. It will be interesting tomorrow to see if there is pressure to push us
back down to that level, but for now, the squeeze is on.




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··∙   long live the shroomery  ∙··
...π╥ ╥π...


Edited by geokills (02/18/10 01:21 PM)


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InvisibleStonehenge
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Re: Stock Update for February 17, 2010 - Resistance, Stops & Shorts [Re: geokills]
    #12053932 - 02/18/10 01:07 PM (13 years, 11 months ago)

Of course the market is going to take another dive. Like who doesn't know that, duh? A lot of people i guess. Unemployment is officially around 10% but we know they lie and the true rate is perhaps 15% or higher. Foreclosures are surging up and up. People are hurting. We are the lucky ones being able to invest excess cash but not all are so lucky. March of 09 was just the first rumble. The next one will be the big one.

I did do well on some of geo's tips. I bought kmp at 41, its now 61 and i got my dollar dividend every quarter. But if i had stayed with sds the ultra short, i would have lost it all back there. I should probably dump my kmp but i'm lazy, i only have a couple hundred shares.

Speaking of foreclosures, i'm putting offers in and plan to increase my production to 2 offers a week. I'm bound to have one of them accepted. Then i'll start the process over again, rinse and repeat. I'm looking for el cheapos, not the 1/2 million dollar houses that are "only" 250k right now. They might double in 5 or 10 years. The chippies might go up 5 or 10 times. And people got to live somewhere. A hot young lady could work a deal with me. Lets barter!


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

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OfflinegeokillsA
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Stock Update for February 19, 2010 - Risk Returns [Re: geokills]
    #12058707 - 02/19/10 08:08 AM (13 years, 11 months ago)

Though I was stopped out of TWM yesterday, I have initiated another leveraged index short on the S&P with SPXU this morning at $36.25.  This is on account of the Federal Reserve hiking the discount rate after the market close yesterday, in conjunction with the fact that the market tagged its 50 day simple moving average yesterday and is short-term over bought; making the Fed's action a decent catalyst for a pullback back below 1100 on the S&P.  I will hold this leveraged index short over the weekend unless we break out above 1110 during today's trading session.

I have not yet been stopped out of any long positions, nor will I be forcing any trades.  For now, I am only recognizing that there is short-term elevated risk in the market and thus am hedging my portfolio accordingly.


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··∙   long live the shroomery  ∙··
...π╥ ╥π...


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Invisibleohmatic
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Re: Stock Update for February 19, 2010 - Risk Returns [Re: geokills]
    #12058773 - 02/19/10 08:29 AM (13 years, 11 months ago)

how are you guys seeing the development of the dollar in the long run compared to the euro ?

friend of mine is doing webdesign online and also does it for US customers
and is complaining that the exchange
rate usD to euros is just complete shit and he cannot charge more because otherwise
people will run off to competitors.

so he decided on having it stored on a us account and waiting it out for the time being
to do the transfers, thought id ask this for em in here.


--------------------
:penis: MONOTUB tek :sun: HEATBOMB tek :penis:

RIP #cultivation! ....can't associate? well FUCK U !


Edited by ohmatic (02/19/10 08:33 AM)


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InvisibleStonehenge
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Re: Stock Update for February 19, 2010 - Risk Returns [Re: ohmatic]
    #12059406 - 02/19/10 10:49 AM (13 years, 11 months ago)

Ohmatic, i have no idea because both the dollar and the euro are under pressure to go down. What will happen is both will fall so the one which falls fastest will look like its weaker. But both will fall in relation to the value of goods. If a bag of groceries cost 10 euros and a year later it costs 20, you dont give a crap if the euro is stronger vs the dollar, you are getting shafted with either one.

Thats why i say put your money in something tangible. I see geo and cl and others selling this, buying that, getting stopped out and so on. Its like the guy weaving in and out of traffic trying to get ahead. With re, gold or something tangible, you don't have to be on top of it every moment. Gold is back over 1100 and i didn't lift a finger to make my money. I bought a substantial amount years ago.

Now is a historic time to get into real estate and you can literally steal from banks who hold property that has dived in value. I will admit with re you have to collect the rent and do maintenance. The good part is you do get rent. If values go back to where they were 5 years ago, i will make a killing like 5 times my money. No worries about a market crash, it already happened. If property goes down more, buy more. The rent more than makes up for any decline. Someone talk to me about that. Geo and cl don't want to hear it.


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

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OfflineTrance104
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Re: Stock Update for February 19, 2010 - Risk Returns [Re: Stonehenge]
    #12059507 - 02/19/10 11:31 AM (13 years, 11 months ago)

Geo invests for protective gains. 10 percent on your money short term (wihtin a week or two) is a TREMENDOUS gain. I don't think we've ever talked down on RE, we just happen to know more about other things. I wouldn't want a moron to argue with me about things they don't know about.

I'm not against investing in RE, but id rather not.


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Can't stop the Trance! Dance!! DANCE!!!

A good archive of Trance music to listen to when you want to relax or trip with.
www.trance104.com


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OfflinegeokillsA
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Re: Stock Update for February 19, 2010 - Risk Returns [Re: ohmatic]
    #12059682 - 02/19/10 12:35 PM (13 years, 11 months ago)

Stopped out of SPXU as the S&P has crossed handily over 1110.  Am still holding the aforementioned handful of trades to ride the melt up.  I don't expect I will do much else today but watch.  The market is just too strong to get aggressively short right now, but I will tighten several of my stops on my long positions over the weekend and keep a sharp eye out for weakness as we approach 1150 on the S&P, which I doubt we will easily surmount without a more serious pull back.  If we can't close above 1108 this afternoon (the 50 day moving average), I may pick up some SDS (2x short S&P 500) to hold over the weekend.

Despite the fact that we are short-term overbought, we have a few things going for the stock market right now:
  • The Federal Reserve did a good job in assuring everyone that the raise in the discount rate is not going to be the start of a major tightening cycle.  The spin here is that we don't need to worry about rates rising too rapidly, but that a slow rise in rates is still indicative of an improving economic landscape.

  • Inflation data was positive for bonds and stocks this morning, showing a drop in year over year core inflation for the first time in 28 years.  Core inflation coming in at  +1.6% over the past 12 months, with a similar expectation for the next 12 months.  This data point supports the Fed's plan NOT to raise rates too fast.

  • The Wall Street Journal reported a potential takeover of Smith International (SII) by Schlumberger (SLB).  Evidence of continued merger & acquisition activity supports stock equities since this activity indicates a perception of a fair or under-valued market.

  • There has been some political speak about watering down the Volcker Plan, which would be a big plus to the major banks since the plan aims to sever their involvement in several of their most profitable activities such as hedge funds, private equity and prop trading.



ohmatic: As to the value of the dollar vs the euro, I would expect to see the dollar continuing to firm up relative to the euro over the intermediate term, due to the various credit concerns in the EU and that relatively speaking, the US is further along at dealing with its own credit problems whereas the signals from Greece and Portugal bode greater uncertainty regarding the various economies in that part of the globe.  Ultimately, we are all fairly well connected globally and the US is by no means in wonderful shape; but weighing the relative concerns, I believe a flight to the dollar as the "least worst" currency may be a reality for some time to come.

If you believe in this thesis, the PowerShares DB US Dollar Index (UUP) is one way to play dollar strength.  For the other side of the trade, consider the UDN.


Stonehenge: What are you gettin' all worked up about?  I don't think anyone in here has said that real estate is a bad investment.  I myself explained in an earlier post that at the current time, due to cash flow constraints and my general position in life, I am simply not in the market to make an immediate purchase of real estate; but I surely wouldn't discount its potential as an excellent asset class to own.  Shoot, I even mentioned that I am managing three properties (8 units) presently!  I surely wouldn't be doing that if I didn't want to be gaining the experience to do it for my own properties some day.  Not to mention, this is a STOCKS thread, so I'm not sure why you seem surprised or miffed that I continue to talk stocks rather than engage a more active discussion on real estate?

Everyone has their own risk tolerance, and their own comfort zone.  Right now, I'm enjoying taking a few hours each day to actively trade the market.  Many people may not enjoy such a thing, and that's totally OK.  I'm happy that you're excited about your real estate ventures, and I for one would love to see you create a new thread to tell us about whatever property(ies) you might acquire, educating us on the process while journaling your own experience.


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··∙   long live the shroomery  ∙··
...π╥ ╥π...


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InvisibleArmFromTheAbyss
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Re: Stock Update for February 19, 2010 - Risk Returns [Re: Stonehenge]
    #12059873 - 02/19/10 01:17 PM (13 years, 11 months ago)

How long are you guys holding these leveraged etfs? They usually say in the prospectus that they only correlate to daily returns of their index. In other words, 2x, 3x etfs are only good for day trading purposes, and they always trend down in the long run. Why not just by puts/calls?


Quote:

Stonehenge said:
Thats why i say put your money in something tangible. I see geo and cl and others selling this, buying that, getting stopped out and so on. Its like the guy weaving in and out of traffic trying to get ahead. With re, gold or something tangible, you don't have to be on top of it every moment. Gold is back over 1100 and i didn't lift a finger to make my money. I bought a substantial amount years ago.





You're still speculating on asset prices. Buying a house because you think its price will go up is no different than buying a stock thinking it will go up. True investing is providing capital to a business in order to produce new income streams.


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InvisibleStonehenge
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Re: Stock Update for February 19, 2010 - Risk Returns [Re: ohmatic]
    #12060330 - 02/19/10 02:43 PM (13 years, 11 months ago)

Arm, you are correct, investing in re or gold is much the same as investing in the stock market. The difference being that you own the goods in question and can buy and sell them any time you want. Buying stock means you own a tiny piece of a company and in theory a tiny piece of their assets. But you have no control over those assets and your stock value can be hammered by a rumor on wall street.

Geo, i wasnt upset but you have bought gold stock, whats the diff between that and buying gold? Investments are investments. likewise with a reit and the actual property. The difference being that you dont have to pay some clown of a manager his huge salary and bonuses that he basically decides how much he will charge you.

Trance, i'm not looking for argument, just discussion. I dont think you or anyone else is a moron, i dont know where you get that. Everyone here knows something and can share it. Yeah, a 10% gain in a few weeks is great, if you can do it consistently. How many here can do that and have done so over a long period?

If no one here wants to hear about other types of stock investment, ie stock you can feel and touch, then i'll leave the thread and start another.


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755


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OfflinegeokillsA
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Re: Stock Update for February 19, 2010 - Risk Returns [Re: ArmFromTheAbyss]
    #12060525 - 02/19/10 03:24 PM (13 years, 11 months ago)

ArmFromTheAbyss, in my post yesterday regarding the use of leveraged short ETF's, I made it very clear that people should educate themselves about the risks associated with the use of these vehicles, particularly over long time periods:
Quote:

If you are not familiar with how these leveraged ETF's work, read this to learn why these instruments are statistically more likely to be more destructive to your portfolio than constructive, if held over extended periods of time during intermediate and long-term market fluctuations.




As for using options to a similar end, that is most certainly a viable strategy.  It just so happens that at this juncture, I am not yet comfortable using options, however I do feel comfortable using the inverse ETF's.  Equally as important as having a fundamentally sound investment strategy, is feeling comfortable with the strategy you are implementing!  I am very interested in learning more about options trading, but due to various factors, have yet to really dive into the thick of it.


Stonehenge, I have invested in the Gold ETF (GLD) in efforts to capture short term moves, however I own considerably more of the physical metal as a long-term hedge against inflation.  I simply use the paper stock as an easy way to trade short-term extensions in the gold market without having to visit my gold dealer, sign papers, take trips to the bank, etc.

Anyway, I love to hear about other types of investment, but to come into a thread that is clearly dedicated to discussions about the stock market, and to attempt to loosely correlate that topic with taking "stock" in other assets such as real estate is a little far fetched.  Not to say I don't want to hear it or that you shouldn't post it here if you want to, but if you're looking for a targeted discussion about real estate, it would surely be served better in its own thread.


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··∙   long live the shroomery  ∙··
...π╥ ╥π...


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InvisibleStonehenge
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Re: Stock Update for February 19, 2010 - Risk Returns [Re: ArmFromTheAbyss]
    #12060682 - 02/19/10 03:52 PM (13 years, 11 months ago)

Quote:

You're still speculating on asset prices. Buying a house because you think its price will go up is no different than buying a stock thinking it will go up. True investing is providing capital to a business in order to produce new income streams.




I'm not sure how true that is. Perhaps on the ipo, but those are reserved for the insiders anyway. When you buy a stock, you buy from another speculator. You have not provided any capital to a business. I do agree that gold or re is speculating on asset prices. I've said that all along. There are several differences, firstly, that a house produces a steady and predictable revenue stream that is many times what the typical stock pays. Secondly your property will tend to follow trends in your area on property prices. Unlike with the stock market in which many stocks go against the tide and fall when others are rising. Thirdly, you are insulated against price manipulation on a particular stock. No one can trash the value of your property just by selling their home nor can they directly cause your value to drop without dropping the values in the whole area which is almost impossible for one person to do no matter how rich.

It's good that you own some gold. It is a good inflation hedge right now. Gold and other metals are a little different in that you get no rent or dividend and no long term capital gains consideration like you do with stock or re. But the gold i bought a few years ago has more than doubled in value and kept its value through the stock crash. How did your stocks do then? I grant you, that re took a similar dump and i lost on paper a lot of money on my own home. But it still provides shelter and its only a loss if i sell which i have no intention right now of doing. I plan to do the opposite and buy.

Unlike the stock mkt crash which has reversed and which may keep going up or take another dump and take people's money with it, re is still in the doldrums and one can grab bargains like you could in march on stocks. Unlike stocks which slashed or eliminated dividends, re pays about the same rents as before and in comparison to value, its a larger percentage.

One little crash can wipe out months or years of doing the voodoo, stopping out, grabbing profits and spending every day studying the charts and so on. I'm sorry you got hit in the crash, a lot of people did. Bottom line is not too many people make a lot of money buying and selling stock for themselves but many many people have made a lot of money in re. A few who bought at the top of the bubble got hurt but if there was no risk whatsoever, it would not pay a good return. Just buying and holding and collecting rent will return your money in around 5 years and that does not take into account price rises which could add a ton more to bottom line. People made money the last few years buying, rehabbing and selling even in a falling market. I figure we are close to the bottom and now is the time to strike.

I'll bet anyone here that re goes up in the next 5 years from where it is now


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755


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OfflineHotnuts
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Re: Stock Update for February 19, 2010 - Risk Returns [Re: ohmatic]
    #12061942 - 02/19/10 07:44 PM (13 years, 11 months ago)

Quote:

ohmatic said:
how are you guys seeing the development of the dollar in the long run compared to the euro ?

friend of mine is doing webdesign online and also does it for US customers
and is complaining that the exchange
rate usD to euros is just complete shit and he cannot charge more because otherwise
people will run off to competitors.

so he decided on having it stored on a us account and waiting it out for the time being
to do the transfers, thought id ask this for em in here.




The euro is under tremendous pressure. I have a long term target of 1.21 on the eur/usd cross. I would think the cross will consolidate around the current levels for a little while and then get hit again. The marketplace is so confused right now, it's hard to say wtf will happen from day to day. When confused, I rely on technical analysis.


Edited by Hotnuts (02/19/10 07:44 PM)


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OfflineHotnuts
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Re: Stock Update for February 19, 2010 - Risk Returns [Re: Hotnuts]
    #12061978 - 02/19/10 07:51 PM (13 years, 11 months ago)

Geokills. Did you bail on (sds)? I'm still involved, but feeling a little pain. Techs are still bullish, believe it or not. If they turn bearish, i'll take a big hit and will be off to lick my wounds, like a splattered cat.


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OfflinegeokillsA
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Re: Stock Update for February 19, 2010 - Risk Returns [Re: Hotnuts]
    #12062810 - 02/19/10 10:14 PM (13 years, 11 months ago)

I sold my position in SDS on Thursday, February 4th.  Haven't touched any other inverse ETF's until this past Wednesday where I got involved with TWM but was stopped out the next day.  Then this morning I picked up some SPXU, but was stopped out when the S&P broke 1110.  Since the S&P has managed to close above its 50 day moving average, I won't be very aggressive on the short side until we see a sign of weakness via a lower intra-day low in conjunction with a lower close on the major averages, or as we approach toward the previous high of 1150.  Meanwhile, I will continue to raise stops on my trading longs into continued strength.


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--------------------
··∙   long live the shroomery  ∙··
...π╥ ╥π...


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Invisibledaussaulit
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Re: Stock Update for February 17, 2010 - Resistance, Stops & Shorts [Re: CosmicLion]
    #12064277 - 02/20/10 08:46 AM (13 years, 11 months ago)

Quote:

CosmicLion said:
Get your short ETF's in action!

My personal favorite is ProShares UltraPro Short S&P 500 (ETF) with the symbol SPXU

This is a 3x Leveraged ETF that responds 300% in the opposite direction of the S&P 500. This means if the S&P 500 does down 1%, SPXU goes up 3%.

I am a fiend for leverage so I like the SPXU. A safer S&P 500 Short can be made through an inverse 200% SP500 ETF such as SDS



You should include a disclaimer about leveraged ETF.  FINRA released a regulatory notice back in the 3rd quarter of 2009. 
Quote:

Exchange-traded funds (ETFs) that offer leverage or that are designed to perform inversely to the index or benchmark they track—or both—are growing in number and popularity. While such products may be useful in some sophisticated trading strategies, they are highly complex financial instruments that are typically designed to achieve their stated objectives on a daily basis. Due to the effects of compounding, their performance over longer periods of time can differ significantly from their stated daily objective. Therefore, inverse and leveraged ETFs that are reset daily typically are unsuitable for retail investors who plan to hold them for longer than one trading session, particularly in volatile markets.



Just a heads up for those who are thinking about buying these things, if you decide to buy any, you need to sell them that same day.


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OfflinegeokillsA
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Mechanics of Leveraged ETF's that reset daily [Re: daussaulit]
    #12064844 - 02/20/10 11:38 AM (13 years, 11 months ago)

Let's clarify this situation a bit:

You do not necessarily NEED to make sure you sell your leveraged inverse ETF's on the same day you buy them; because if the trend continues to move in your favor, you will most assuredly continue to make money if you hold the inverse ETF overnight.  It is only when the trend reverses or undergoes partial retracement on a closing basis, that you will not be able to make back a specified loss with an equivalent amount of gain in the underlying index that is being tracked.

Because a volatile market will tend to experience choppy action every few days, it is a good idea to use these trading vehicles primarily for short-term use.  However, there is nothing wrong with holding them for several days IF you manage to catch the beginning of a turn in the major indexes (i.e. an inflection point).  For example when the S&P breaks a key moving average on heavy volume after a strong positive run over the previous several days, one can be reasonably assured that the downside pressure will continue for at least a couple of days as the previously overbought condition is worked off.

But your point still stands, that these instruments are not designed to be held for extended periods of time, as volatility will eat away at their intended returns, and ultimately stack the cards against you, where the downside potential slightly eclipses the upside potential in aggregate.  I've posted it twice already (and referred to it many times prior in this thread), but here it is again, laid out in a very easy to understand manner: The Universal Effects of Compounding and Leveraged Funds.


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InvisibleGI_Luvmoney
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Re: Mechanics of Leveraged ETF's that reset daily [Re: geokills]
    #12078678 - 02/22/10 04:56 PM (13 years, 11 months ago)

Some recent information about Nuveen CEFs including muni bond CEFs.

http://www.nuveen.com/CEF/Info/Shareholder/E-Reports.aspx


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Stock Update for February 23, 2010 - Market Consolidates [Re: geokills]
    #12083418 - 02/23/10 01:27 PM (13 years, 11 months ago)

Stopped out of ETFC flat, and half of my position in POT for a 13% gain.  I will look to add back to POT if it approaches $100 - $104, otherwise I still have a half position in play to capture future upside.  I also picked up some TZA (a 3x leveraged short on small cap's) in the early goings today, as the market has been fairly overbought on a short-term basis and if we close below 1100 on the S&P today, I would expect more downside soon.

The S&P's 20 day moving average lies around 1085, but I would expect a move down to the 20 day to break to 1080 pretty easily, if not head even lower.  Nevertheless, I still maintain plenty of long exposure (with fairly tight stops), just in case the market continues its rally off of the Feb 5th low.  If on the other hand, we move down and I am stopped out of various positions, here are a few of the stocks that I will be watching for entries over the coming several weeks:

  • USU (uranium mining company)
  • CREE (led semiconductor company)
  • TCK (mining company - Chinese gov't took a 17% / $3.5 billion position in this co. last year)
  • POT (agricultural chemical mining)
  • APA (independent oil & gas)
  • F (automotive)
  • SIRI (satellite radio broadcasting)
  • TEVA (pharmaceutical)
  • XRTX (data storage)


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InvisibleAroundtheSon
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Re: Stock Update for February 23, 2010 - Market Consolidates [Re: geokills]
    #12098224 - 02/25/10 08:25 PM (13 years, 10 months ago)

The bears are always quick to hide.


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