Gumby's Trading Account

[etftalk]

Good luck Gumby!

[Gumby]

Thanks Tom,

How do you want us to post the gains/losses? I can take what ETF/stocks I am holding percentage wise of my account and multiply it out. Do you want us to count todays gains?:)

[etftalk]

Do you want us to count todays gains?
Unfortunately, if we are going to do this in a measured fashion, which may not be the best or easiest idea, we didn't get started correctly.

We'd need info like: bot 100 SDS @ $xx.xx for total of $xxxx.

Perhaps we are not ready for that type of detail yet, and you can just explain your trades for now - without looking at totals and returns. We'll work it out.

[Gumby]

I agree. It would be easier to post the purchase and then the sale.
I think the main thing is to be able to observe what other people are trading and how they are doing with it.

[Gumby]

Sold SKF @ $165
Have sell order in for SRS @ $78, SDS @ $90

The SRS has not ticked up as much as I thought. Maybe the thought of the mortgage bailout is holding this ETF down. Good morning to be short in the market.:bigsmile:

[etftalk]

Nice day Gumby. I see SDS hit 87 this morning. Remind us of your purchase prices again. Thanks.

[Gumby]

Nice day Gumby. I see SDS hit 87 this morning. Remind us of your purchase prices again. Thanks.

I had bought the SKF for $154, so I made $11 sh. Of course I should have doubled down when it dropped back to $130 a few days ago....but I couldn't make myself do it at the time.
SDS bought at $78 & $78.40, SRS bought at $65.50. I think SRS will fill at $78 this PM.
I also have some SDS FEB calls strike 84 bought at $1.90...have sell order in at $6.00. The ticker is .SBJBF. Sold some last Friday @ $1.45 when the S&P ticked to 835 last Friday.....Oh well.:nuts:

I am going to enter a sell for SDS @ $90....may not fill today....but you never know.
My AEE is taking a clubbing today as they slashed their dividend $1.00/sh ....didn't see that one coming...down 16% today.

I am holding TBT that I bought for an average of $39.59.

Trade well:)

[etftalk]

Nice job! Thanks again.


I am holding TBT that I bought for an average of $39.59.
Good call there.

[Gumby]

Nice job! Thanks again.


Good call there.

Thanks Tom

Sold 50 SRS @ $78...bought at $65.5....19% profit.
I may have sold to quick.:bigsmile:

[Gumby]

Sold all .SBJBF to close position this morning @ $7.80.
These are Feb 84 strike CALLS on SDS.

Purchase (http://www.etftalk.com/forum/showpost.php?p=757&postcount=7)

Bought @ $1.90 profit 310% :)
If I could only do that with TSP :bigsmile:

I am still holding my SDS.......sell order didn't fill earlier this week @ $90.


Look at that $200+ SKF this morning. I definitely sold too quick. Oh well, profit is good.

[etftalk]

Buy 1.90, sell @ 7.80? Just another 300% gain? :bigsmile: Very nice!

[Gumby]

Thanks Tom,

I held onto these options until OPEX this time. Back in November I made what I thought was a great trade in SDS options. I bought the options on election day when the S&P spiked over 1,000 and sold for a quick profit 2 days later.

November SDS (http://www.tsptalk.com/mb/showpost.php?p=193012&postcount=222)

The bad part was I wasn't holding come Nov 20th. I stood in amazement as this option hit $43.:eek: I had sold out at $15.

[Gumby]

Bought UYG @ $1.95 and TBT @ $45.50
Have buy order in for SSO @ $18.30
Sell order for SDS @ $95...may not hit unless we get a good selloff this PM.

If BAC and C go broke, they are only about 6% of UYG. UYG is either a screamin' buy or a sucker's bet. I just don't know which.:nuts:

[LTB]

Look at that $200+ SKF this morning. I definitely sold too quick. Oh well, profit is good.
Amen to that!

[JTH]

$95...may not hit unless we get a good selloff this PM.

I'll take that same level if I can get it, good luck!

[Gumby]

I'll take that same level if I can get it, good luck!


The SDS didn't fill and neither did the SSO. I thought I would try for max gain today.

How 'bout that SKF. If the banks are nationalized does that mean the price goes to infinity......?

[etftalk]

If I remember correctly, didn't SDS come within a few cents of 95 today?


How 'bout that SKF. If the banks are nationalized does that mean the price goes to infinity......?
I bought some SKF options with a strike price of infinity. :)

[JTH]

The SDS didn't fill and neither did the SSO. I thought I would try for max gain today.

I was watching SDS while it was in the 94s and I suppose I should have sold at those levels, but I was already set to sell at 97.40 Yea I know I'm a greedy optimistic pig. :toung:

I'm just getting used to the charts in my ROTH IRA, if I had been watching them while SDS was in the 94s, I would have seen the rising trendline on the 5 minute chart, and perhaps sold when it broke.

Coulda shoulda woulda, either ways I learned some things today. :rolleyes:

[justbizness45]

Gumby, I'm not much of a chart guy yet, but UYG rode the lower bollinger band and pierced it four times in the last 6 months. Each time it went back up for a few days. Today it looks like it pierced it for the fifth time. I may put in an order for monday first thing. Thanks for making me look!!

[Gumby]

Gumby, I'm not much of a chart guy yet, but UYG rode the lower bollinger band and pierced it four times in the last 6 months. Each time it went back up for a few days. Today it looks like it pierced it for the fifth time. I may put in an order for monday first thing. Thanks for making me look!!

I bought the UYG and in just a few minutes it went from $1.90 to $2.29 Friday. I got in at near the low. I probably should have sold it for a quick gain. I think the UYG may turn into a good play if the money keeps coming from the government without natioalization. If only a few banks get taken over, hopefully the price should not go too much lower.

Trade well.

[Gumby]

I have sell orders in for UYG @ $2.35 and $2.49
Sell order in for TBT @ $46.78

Buy order in for SDS at $89...almost filled this morning...just missed at $89.02.

Trade well:)

[Gumby]

If I remember correctly, didn't SDS come within a few cents of 95 today?


I bought some SKF options with a strike price of infinity. :)


Just missed on the SDS on Friday. Always seems like I am a day late and a few cents off. I just can't seem to put in market orders. I may have to change my habits.
SKF options with a strike of infinity would still be expensive.:bigsmile:
That is one volatile and pricey ETF.:eek:

[Gumby]

Sold SDS @ $94.87. I think I had $84 as a purchase price.
Long SSO @ $18.20 & $18.15

[etftalk]

Nice work Gumby!

[Gumby]

Nice work Gumby!

Thanks Tom,

I don't know if the afternoon bounce is going to happen or not. Probably have to wait until 3:30 to find out. We will either end up green or set a new 52 week low on the S&P. I don't know which.

[Gumby]

Doubled down on SSO @ $17.77. That maybe a stupid move.
The Nov low held.....maybe this is a tad bit bullish...at least in the short term.
What a brutal day....man that was ugly.:sick:

[JTH]

What a brutal day....man that was ugly.:sick:

No kidding, I didn't think today would end up being so utterly bloody.

Nice gains you picked up SDS, hope your SSO picks up the slack, we are overdue for a bounce, I hope.

[Gumby]

Nice gains you picked up SDS, hope your SSO picks up the slack, we are overdue for a bounce, I hope.


Again, I sold to soon. I went for the senario of an afternoon market bounce....but it didn't happen. I will probably sell all the SSO today and buy the SDS. I may try to nibble back into the SDS at 50 to 100 sh at a time over the next couple of days. My timing just isn't working to well.

Good luck

[etftalk]

My timing just isn't working to well.
It's a rare event when we can hit a top or a bottom exactly. We can just hope trades move in our direction and we are pocketing profits. But complaining about the fish that got away is still legal. :D

[Gumby]

I was away from the computer most of the day (on the road)so I didn't get to see the huge bounce today. I had put in some buy and sell orders early this morning and they all filled.

Sold SSO in 2 batches and bought SDS in 2 batches. Sold some UYG in one lot.

SSO sold at $18.25 and $18.49 closed position
Bought SDS at $91.68 and $90.00
Sold UYG @ $2.29 bought at $1.95 on Feb 21. Still holding a position at a purchase price of $2.95 (Hoping to get my investment back on this in the future)

[Gumby]

It's a rare event when we can hit a top or a bottom exactly. We can just hope trades move in our direction and we are pocketing profits. But complaining about the fish that got away is still legal. :D

It is always good to have the direction correct with this market:)
I had a good day and I am satisfied. I just wish I had made an IFT for my TSP.:bigsmile:

[Gumby]

Long FAZ @ $57.00

[Gumby]

Set trailing stop on FAZ @ 4%

[etftalk]

Good move, imo. Oil up, gold flat, bonds down slightly. No real warning signs.

[Gumby]

Stopped out of FAZ @ $61.64 purchase $57 8.1% profit in about 1.5 hrs
Wish I could do that every day:wacko:

Buy order for FAZ @ $60

[Gumby]

Long FAZ @ $59.96 Here we go again

[etftalk]

GL! (good luck)

[Gumby]

Bought SDS at $91.68 and $90.00


Closed SDS position @ $92.25 Made 1.5 %

Looks like Tom might get his market runup this afternoon.:)

[Gumby]

Took my profits from sales today and bought CAT @ $24.74.
It is yielding about 6%.

[Gumby]

Long FAZ @ $59.96 Here we go again

Stopped out @ $56.64 Loss of 5.5%:embarrest:

[Gumby]

Bought UYG @ $1.95 and TBT @ $45.50



Sold TBT @ $47.90 5.2% profit
Still holding a larger position in TBT that I have an average of $39.XX/sh invested.

Buy order in for FAZ @ $45.15.......may fill if we get a bounce this PM.

[etftalk]

Nice. I'd love to see 45.15 on FAZ, but we'd sure need a big rally this afternoon. I'm looking for FAZ or SDS myself by the close.

[Gumby]

Long FAZ @ $52.91
I have decided to DCA into FAZ today.

Atilla is in at $65 (http://xpositions.blogspot.com/) I trust his judgement. Something big is about to happen....I just don't know which shoe will drop next.
The new budget has some serious implications- especially longer term.

TBT is dropping like interest rates are falling. There must be a shift to bonds going on right now. Somethings up:confused:

[etftalk]

Long FAZ @ $52.91
Turns out to be a nice price.

[Gumby]

Turns out to be a nice price.
We shall see. Looks like the battle between the bulls& bears is raging.

I have a feeling the bulls have the government plunge protection team shoving money into index funds for them. I think we will end green for the day.

[etftalk]

The PPT must have run out of money. :)

[Gumby]

The PPT must have run out of money. :)

Remember, they are trying to balance the budget:confused:

Picked up more FAZ at $54.225 near the close. Maybe I can use that market order button after all. Have an average of $53.57/sh in FAZ.
I'll but more tomorrow if the price is right.:wacko:

[Gumby]

I think we will end green for the day.

That was a pipe dream. I should have transferred all my TSP yesterday.....you know the story...woulda...shoulda....coulda.:nuts:

I never thought I would see the day when trading TSP rivals the likes of SKF, FAZ, and SRS. I guess that 4 hr lag time has someting to do with it. Man, 4 minutes is a long time in this market. :eek:

[etftalk]

This chart shows that either things are going to have to change, or bank stocks are ready to roll over again...

http://www.etftalk.com/images/forum/banks.gif

[Gumby]

Sold UYG @ $2.29 bought at $1.95 on Feb 21. Still holding a position at a purchase price of $2.95 (Hoping to get my investment back on this in the future)


Unloaded full position of UYG @$2.49 Loss 15.6%
I think the financials are toast. That 100:1 leverage, mismanagement, government meddling, and greed is going to get them.

[Gumby]

This chart shows that either things are going to have to change, or bank stocks are ready to roll over again...



Tom, that is an interesting chart. The next week will be interesting.

[Gumby]

Not a pretty picture for the banks (http://money.cnn.com/2009/02/26/news/companies/fdic_banks/index.htm)

Does the government have enough money to bail all of these banks? Or do they need to put in an order for extra ink and paper.

Obama's budget is going to cause some serious turmoil.:confused:

[etftalk]

Cramer was a big supporter of Obama. Today he's calling him a communist and to get out of stocks. He killed the healthcare industry today and it's just a matter of who's next.

[JTH]

Given all the bad news today, we seem to have held unto major support. Am I being an optimist here?

I'll probably explore putting in some stops tonight, but lucky me I'll be off tomorrow, so I'll have time to watch the morning action.

[etftalk]

Given all the bad news today, we seem to have held unto major support. Am I being an optimist here?
I have been torn myself. Is my "I give up" attitude the green light to buy, or did this market miss it's chance to rally this week? Friday could be the tell.

[Gumby]

Given all the bad news today, we seem to have held unto major support. Am I being an optimist here?

I'll probably explore putting in some stops tonight, but lucky me I'll be off tomorrow, so I'll have time to watch the morning action.


I have been torn myself. Is my "I give up" attitude the green light to buy, or did this market miss it's chance to rally this week? Friday could be the tell.


Today will be interesting. It will be a great day to be short this market.
Short ETFs like FAZ, BGZ, SRS, SDS, TZA & TWM should soar. :)

[Gumby]

This chart shows that either things are going to have to change, or bank stocks are ready to roll over again...



Tom,
I really want you for posting the banking index chart yesterday. That prompted me to unload my UYG position. I took a loss, but if I would have held....it would have been a beating.:)

[Gumby]

Remember, they are trying to balance the budget

Picked up more FAZ at $54.225 near the close. Maybe I can use that market order button after all. Have an average of $53.57/sh in FAZ.
I'll buy more tomorrow if the price is right.:wacko:

Stopped out on the fallback @ $59.00 10.1% profit:nuts: overnight
Should have punch a market sell at the open, but I got greedy:eek:
I had about a 10% stop and it still hit it.


Watch FAZ run up now.
Buy order back in @ $57

Oh well, profit is good:wacko:

[JTH]

Great trade :bigsmile:

[etftalk]

Tom,
I really want you for posting the banking index chart yesterday.
...uh, what exactly did you mean by "want you"? :blink: I'm hoping you forgot a word. :D

[Gumby]

...uh, what exactly did you mean by "want you"? :blink: I'm hoping you forgot a word. :D

I left out "to thank you".

I got a phone call when I was typing and didn't proof read:nuts:

[Gumby]

Great trade :bigsmile:


Thanks JTH,

I really wanted to let it run through the day but decided to set a stop in case for some reason the market snapped back and FAZ dropped....which it did. I thought ~10% stop would have been enough. It just shows you how volatile these EFT's can be.

If my buy order fills, I might end up being 400 bucks better off. Then again, it could drop like a rock.

Happy trading:)

[Gumby]

Put in a sell for TBT @ $49.

[Gumby]

Long GDX @ $33.40
Long FAZ @ $58.50

Maybe the PPT will run out of stimulus money this afternoon:bigsmile:

[etftalk]

The ping pong match has been pretty steady today. You'd think something would give before 4 PM ET, but which way?
You are in the same positions I am, long GDX and FAZ. Good luck!

[Gumby]

The ping pong match has been pretty steady today. You'd think something would give before 4 PM ET, but which way?
You are in the same positions I am, long GDX and FAZ. Good luck!

Maybe we will both be lucky.
bought another 100 GDX @ $33.17 I hope your prediction of $40 is right:)

[Gumby]

Long GDX @ $33.40
Long FAZ @ $58.50

Maybe the PPT will run out of stimulus money this afternoon:bigsmile:

Stopped out of FAZ @ $61.52 5.1% profit:)

Looks like the bulls are snortin':eek:

[Gumby]

Looks like the bulls are snortin':eek:

NOT!
Bears win :bigsmile:

[etftalk]

Stopped out of FAZ @ $61.52 5.1% profit
So you are flat on FAZ going into the weekend? Not a bad idea, actually.

[Gumby]

So you are flat on FAZ going into the weekend? Not a bad idea, actually.

Yes, sold all my FAZ. I thought about holding it.....but I figure Bernanke will pull another rabbit out of his hat over the weekend and cause the SPX to gap up Monday morning. There is way to much government manipulation going on. It's almost like shooting craps with the government being the house. I am not bashful about taking a profit:wacko:

If the market gaps down, I'll look for something else to buy.
These 100 pt swings on the DOW can make a person go from Bear to Bull within minutes.

[Gumby]

So you are flat on FAZ going into the weekend? Not a bad idea, actually.

It's not going to work out. :nuts: The S&P has been down something like 9 out of the last 10 trading days. I figured the S&P would bounce up this morning. It will not at the open, but the gap down might get filled quickly or else we are in for a big plunge today.

It is shaping up to be an excellent day short in this market.

[etftalk]

Don't sweat it. Holding over the weekend is a gamble for traders. You never know what kind of news will be announced. You always hate to miss a nice trade, but the bottom line is we must stay alive and protecting our capital, so we can live another day and trade on.

It looks like I will win this gamble (FAZ) but I have had some bad Monday mornings in the futures market, when they've gone against me. :eek:

[Gumby]

Don't sweat it. Holding over the weekend is a gamble for traders. You never know what kind of news will be announced.


I agree, last Fall the government kept making announcement on Sundays that always rolled the market. Good luck.
Premarket
FAZ $67.91
SDS $102.84
TZA $86.22
TWM $96.20
BGZ $97.00
SRS $84.78

[Gumby]

Set stop on GDX @ $32.00

[etftalk]

Something isn't right with gold. How could it be down today? It may be time for a big pullback.

[Gumby]

Something isn't right with gold. How could it be down today? It may be time for a big pullback.

I agree. It fooled me GDX Hit stop @ $32.00 Loss 3.9%
Stopped out of CAT @ $23.00
Looks like the market drop is accelerating

[Gumby]

GDX down $2.00 this morning. I guess traders are taking flight.:rolleyes:
I would have thought it would be up that much.:confused:

[etftalk]

Tough to put the clues together. Stocks down, gold down, oil down, natural gas up, dollar up, bonds up (yields down)...

Natural gas (UNG) actually looks like it wants to go higher. Deep downtrend, but outside day last week on big volume with close to the upside,and today some follow through but now bumping against the 20-DMA. This sucker has been hammered.

[Gumby]

Atilla predicts a sell off..S&P below 700 (http://xtrends.blogspot.com/)

Long FAZ @ $73.45

[Gumby]

I think I may have this figured out. I buy FAZ...it goes down. I sell and it goes up. I guess I will have to reverse signals:bigsmile:

Long USO @ $24.65
Not an ETF, but I shorted BBY @$27.51

[etftalk]

Not an ETF, but I shorted BBY @$27.51
That's legal. :bigsmile:

[Gumby]

After hour order in for SSO @ $15.80
Following Tom's lead :)

[etftalk]

Be careful! I haven't had a losing trade since posting them here so I am way overdue. :eek::bigsmile:

[Gumby]

Be careful! I haven't had a losing trade since posting them here so I am way overdue. :eek::bigsmile:

I don't want to jinx you...it probably won't fill anyway. SSO had ticked down to $15.82:wacko:

I think you will have a profitable trade.

[JTH]

After hour order in for SSO @ $15.80
Following Tom's lead :)

Please excuse the newbie question, but can you actually purchase after hours? :huh:

[Gumby]

Please excuse the newbie question, but can you actually purchase after hours? :huh:

JTH,

I use Scottrade and from I believe 4:15 to 8:00 PM Eastern Time, you can place a special after-hours order. Typically there is very low volume but yes you can still trade. I haven't looked but I may be the owner of 100 SSO.:nuts:

[etftalk]

Scottrade: Pre-Market trading is from 8:00 a.m. – 9:15 a.m. ET on selected NASDAQ and Listed securities, Monday through Friday on days when the market is open. After-Hours trading is from 4:15 p.m. to 8:00 p.m. Eastern Time on selected NASDAQ and Listed securities, Monday through Friday on days when the market is open.

http://www.youtube.com/watch?v=WitUQ1qDvYI

[etftalk]

After hour order in for SSO @ $15.80
Following Tom's lead :)
FYI, I just sold SSO premarket @ 16.27.

[Gumby]

FYI, I just sold SSO premarket @ 16.27.

Tom,

You did well. That was quick profit.
I didn't get a fill on my SSO. I guess I was nickle off.:wacko:
I am going to look at BGU today if we bounce up.

[etftalk]

Thanks G. Just wanted to make sure you saw that. There is certainly some room to move on the upside. Good luck and be careful!

[Gumby]

Sell limit order in for FAZ @ $81.55
Quite a battle going on in the market today.

[Gumby]

Atilla predicts a sell off..S&P below 700 (http://xtrends.blogspot.com/)

Long FAZ @ $73.45

Stopped out of FAZ @ $77.02 for a small gain:)

[etftalk]

Nice. I'm kind of stuck on the sidelines (except for my UNG), waiting for the market to do something.

[Gumby]

Sold short BGU @$16.425
Will the market selloff?

[etftalk]

I may be following. Watching, waiting...

[Gumby]

I may be following. Watching, waiting...

Following what I do may be hazardous to your wealth:bigsmile:

Atilla thinks it might happen (http://xtrends.blogspot.com/)

[etftalk]

Atilla thinks it might happen (http://xtrends.blogspot.com/)
Ebb hasn't exactly set the world on fire in '09, but his signals are very bearish for tomorrow (Wed).

[Gumby]

Ebb hasn't exactly set the world on fire in '09, but his signals are very bearish for tomorrow (Wed).

Ebb missed that selloff yesterday but he may be right for tomorrow.
I really don't want the market to selloff today because of my TSP transfer so the short BGU will hedge my bet.:nuts:

I may double down on the short BGU if we break the high for the S&P today. This last hour of trading could be interesting.

[etftalk]

re: short BGU:

I placed my stop above the morning's high of 17.16 and it came within a 0.25 of getting hit. Now, bam! ...below 16.00 as I write.

Nice call gumby!

[Gumby]

re: short BGU:

I placed my stop above the morning's high of 17.16 and it came within a 0.25 of getting hit. Now, bam! ...below 16.00 as I write.

Nice call gumby!

Thanks Tom,

It didn't have the fireworks that I wanted but it worked out.
I bought to cover @$16.00 about 30 seconds before the close.:)

[etftalk]

I bought to cover @$16.00 about 30 seconds before the close.:)
Nice job. I see it is currently trading at 15.60 x 15.65 after hours (not that you wanted to hear that.)

[Gumby]

Nice job. I see it is currently trading at 15.60 x 15.65 after hours (not that you wanted to hear that.)

Oh yeah,...seems like that always happens:bigsmile:
Have you closed out yet or waiting? You are going to make about 1 buck a share. That is super!

[etftalk]

Still short - giving Ebb the benefit of the doubt for tomorrow.

[Gumby]

Still short - giving Ebb the benefit of the doubt for tomorrow.

Hope it works out.

[Gumby]

Looks like I missed a good day to be trading. Hopefully I will be around a computer tomorrow.

[JTH]

Looks like I missed a good day to be trading. Hopefully I will be around a computer tomorrow.

Yea I missed it too, but that's ok I'm waiting for confirmation of a direction in anything long. :)

[Gumby]

Is today the start of the washout?

http://xpositions.blogspot.com/

I think he is trying for a million dollar trade. The S&P500 would have to drop to 623.5 for this to be a reality.

Could it happen? This trade is already $457,500 in the money with the S&P currently @ 696

Atilla has been right most of the time and he has patience. He didn't even unload this position yesterday when the /ES ticked all the way back to 723.

[Gumby]

Is today the start of the washout?

http://xpositions.blogspot.com/

I think he is trying for a million dollar trade. The S&P500 would have to drop to 623.5 for this to be a reality.

Could it happen? This trade is already $457,500 in the money with the S&P currently @ 696

Atilla has been right most of the time and he has patience. He didn't even unload this position yesterday when the /ES ticked all the way back to 723.

Atilla has a large short position on the /ES at 757

[JTH]

Atilla has been right most of the time and he has patience. He didn't even unload this position yesterday when the /ES ticked all the way back to 723.

He might be right, but at these prices and a longer-term outlook, folks will inevitably step in. (I Hope)

[Gumby]

I'll be traveling again today, so I won't be able to trade. You all have fun and make some $$$$.:)

[Gumby]

Long SRS @ $98.33
This market is up and down like a yo-yo :nuts:

[Gumby]

Sold TBT @ $47.90 5.2% profit
Still holding a larger position in TBT that I have an average of $39.XX/sh invested.

Buy order in for FAZ @ $45.15.......may fill if we get a bounce this PM.

Sold all my TBT @ $45.78 I'll be back in this one when the market sells off and interest rates drop. Fingers crossed.:bigsmile:
Long TLT @ $103.68

[JTH]

Sold all my TBT @ $45.78 I'll be back in this one when the market sells off and interest rates drop. Fingers crossed.:bigsmile:
Long TLT @ $103.68

Great trade, I wish I had caught the TBT boat a while back. You may have made an excellent exit, it seems bonds are in a wishy-washy area right now.

[Gumby]

Great trade, I wish I had caught the TBT boat a while back. You may have made an excellent exit, it seems bonds are in a wishy-washy area right now.

Thanks JTH
With the futures up this morning, I may have sold the TBT too soon.
That is the story of my life.:bigsmile:

Profit is good!:nuts:

[Gumby]

Long SKF @ $190
Stop $185

[Gumby]

Long SKF @ $190
Stop $185
Stopped out of SKF :suspicious:

Long FAZ @ $65.00
Long EWT @ $7.44

Looks like several of us took the FAZ plunge today:eek:

[Gumby]

Limit order to buy more FAZ @ $62

[Gumby]

FAZ filled @$61.92

[XL-entLady]

FAZ filled @$61.92
VERY nice! You were more patient than I and will be better off for it.:)

Lady

[Gumby]

VERY nice! You were more patient than I and will be better off for it.:)

Lady

I hope we all do well. We could have got a better price even if we would have waited until the last minute. The price really dropped hard from $63 down. It doesn't seem like I get a fill below my price very often unless I buy an ETF.

Good luck.

[JTH]

I hope we all do well. We could have got a better price even if we would have waited until the last minute. The price really dropped hard from $63 down. It doesn't seem like I get a fill below my price very often unless I buy an ETF.

Good luck.

You lucky guys, that is the 2nd biggest candle on the entire chart!

I would have jumped in myself, but I sold FAS Monday and all I have is unsettled funds in my account. :embarrest:

[etftalk]

Gumby -

Did you see Atilla started buying FAZ @ 65 at 3 PM? Great minds... :)

[XL-entLady]

Gumby -

Did you see Atilla started buying FAZ @ 65 at 3 PM? Great minds... :)
I was relieved to see that myself. Sometimes I think that xtrends has a big enough following that Atilla can be a market mover. :huh:

Lady

[Gumby]

I was relieved to see that myself. Sometimes I think that xtrends has a big enough following that Atilla can be a market mover. :huh:

Lady
His comments prompted me to buy more. Will the financials continue to advance or was this a short covering rally?

I wish I had 1% of the mind Atilla has when it comes to trading.:bigsmile:

Trade well.

[Gumby]

Premarket FAZ @ $54.83

I will probably be buying more today. These big financial institutions are all insolvent if the truth was known. The government is helping them hide the extent of the problem.

[Gumby]

Sold all my TBT @ $45.78 I'll be back in this one when the market sells off and interest rates drop. Fingers crossed.:bigsmile:
Long TLT @ $103.68

Sold TLT @ $101.25 for a 2.3% loss.
That didn't work out:unsure:

[Gumby]

I think I may have this figured out. I buy FAZ...it goes down. I sell and it goes up. I guess I will have to reverse signals:bigsmile:

Long USO @ $24.65
Not an ETF, but I shorted BBY @$27.51

Sold position in USO @ $27.06 9.7% profit:)
Long DUG @ $29.22

[JTH]

Sold TLT @ $101.25 for a 2.3% loss.
That didn't work out:unsure:

Sound like you had a tight stop. I'll tell you what, that F-Fund has been bleeding me one pin prick at a time. :eek:

But here's the thing. Once the Feds start spending money on all these pork projects, people are going to need to borrow money and when they do, I'll be loaning it to them. :toung:

[Gumby]

Long AEE @ $19.92 Not an ETF, but I am going to hold this one for the dividend and potential increase in share price.

[Gumby]

Sound like you had a tight stop. I'll tell you what, that F-Fund has been bleeding me one pin prick at a time. :eek:

But here's the thing. Once the Feds start spending money on all these pork projects, people are going to need to borrow money and when they do, I'll be loaning it to them. :toung:

One of the premium fellows that I respect suggested the TLT. I sold my TBT and went long on TLT. I should have just held onto the TBT.
I'll buy the TBT back on a dip in price. I think TBT is going to be a long term hold but for some reason I can't keep from trading it.:bigsmile:
If the market takes a plunge, the TLT will go back up.

That F fund is hard to figure out. I generally try to avoid it but couldn't resist this month. I am selling more of it today in the TSP.

[Gumby]

Holding onto the FAZ. Buy order in @ $38.00. Sometimes a person just has to double down.:eek:
The chart on FAZ looks like an inverted rocket.

Buy order in for SKF @ $135 Stop $130

The mark-to-market talk and a few financials talking about a profit for January and February in un-impressive. To many unknowns.

[Gumby]

Scottrade won't allow a short sell of UYG since it is under $4/share.
Any Scottaders found a way around this?

In tried to short GM back in January @ $3.XX and couldn't do that one either.

[Here$14U]

SKF is the short for UYG, but I'm sure you already know this. :)

[Gumby]

SKF is the short for UYG, but I'm sure you already know this. :)

14U,

I may just have to change trading stategy. My strategy has not been working to well anyway. I need next Fridays Wall Street Journal today.
Last Fall I went long and shorted UYG quite regularly. UYG was trading from $10 to $24 at the time. Now that the price dropped below $4, I can't go short.

SKF has been so expensive but I guess it is all relative. Maybe a person could get by with buyer fewer shares.

These financials have been a wild ride.
Have a great day.:)

[Gumby]

I was expecting a lower or flat close for today.
Maybe we have a short squeeze going on. S&P @ 757

Still holding the shorts on FAZ. I am thinking about buying some SRS around $60 or a little lower. Anyone holding SRS?

[Gumby]

Let me clarify the last post. I am holding FAZ.....not short. My grammer wasn't very good.
I still don't have the edit button Tom.:nuts:

[Here$14U]

Hi Gumby;
DIG and DUG energy ETF's. Maybe you could employ the same tactics with them. I think oil is in a bottoming phase and may be ready to move higher soon in which case DIG would move up in value. Use DUG to hedge the bet on pullbacks. Could use same strategy with UCO or USO, with the shorting possibility SCO on the pullbacks. Just some food for thought. Trade well!:)

[Gumby]

Hi Gumby;
DIG and DUG energy ETF's. Maybe you could employ the same tactics with them. I think oil is in a bottoming phase and may be ready to move higher soon in which case DIG would move up in value. Use DUG to hedge the bet on pullbacks. Could use same strategy with UCO or USO, with the shorting possibility SCO on the pullbacks. Just some food for thought. Trade well!:)

14U,

I haven't been watching the oil as close I as should. I currently have a position in DUG. Have you a good trading strategy for DIG & DUG chart wise?

I sold my USO position and haven't traded the UCO. I'll have to do some more schooling on those.

Thanks for the tip.

[Here$14U]

Hi Gumby;
I love ratiocharts. Go to stockcharts.com and type in dig:dug. Add your favorite indicators. It is a comparison chart to see if dig is outperforming dug. Check slow sto, macd, and CCI7. Use Bollingerbands, and 5 day moving average. U can do ratio charts with anything. I like $SPX:$VIX which is very interesting. You can do USO:SCO, GLD:SCO, UYM:SMN, let yourself go! Try $SPX:$SML to see if large caps are outperforming small caps. How about $USD:$XEU to see if the US$ is outperforming the Euro. Have fun with this.:)

[JTH]

Hi Gumby;
I love ratiocharts.

Dude~! That totally rocks!!!

Thanks

[JTH]

Dude~! That totally rocks!!!

Thanks

Buy hey waith a second! What am I going to do with all that extra time? :huh:

[Gumby]

Hi Gumby;
I love ratiocharts. Go to stockcharts.com and type in dig:dug. Add your favorite indicators. It is a comparison chart to see if dig is outperforming dug. Check slow sto, macd, and CCI7. Use Bollingerbands, and 5 day moving average. U can do ratio charts with anything. I like $SPX:$VIX which is very interesting. You can do USO:SCO, GLD:SCO, UYM:SMN, let yourself go! Try $SPX:$SML to see if large caps are outperforming small caps. How about $USD:$XEU to see if the US$ is outperforming the Euro. Have fun with this.:)

Thanks...really appreciate it. I'll give it a try.

[XL-entLady]

Hi Gumby;
I love ratiocharts. Go to stockcharts.com and type in dig:dug. Add your favorite indicators. It is a comparison chart to see if dig is outperforming dug. Check slow sto, macd, and CCI7. Use Bollingerbands, and 5 day moving average. U can do ratio charts with anything. I like $SPX:$VIX which is very interesting. You can do USO:SCO, GLD:SCO, UYM:SMN, let yourself go! Try $SPX:$SML to see if large caps are outperforming small caps. How about $USD:$XEU to see if the US$ is outperforming the Euro. Have fun with this.:)
14U mentioned that a bit ago and I jumped on it. Works great if you're trying to decide between two different ETFs that do similar things (CAF:FXI for example) or if you're trying to decide which of two different types of ETFs to purchase (XLK:XLI). That last one really helps when you study different timeframes.

Thanks, 14U!

Lady

[Gumby]

Anybody selling their FAZ today?
I am still holding and thinking about buying more. Bring on the pain?:nuts:

[JTH]

Anybody selling their FAZ today?
I am still holding and thinking about buying more. Bring on the pain?:nuts:

I was thinking the same thing. It's sort of like all of us playing chicken at the same time on the same road. :toung:

[XL-entLady]

Anybody selling their FAZ today?
I am still holding and thinking about buying more. Bring on the pain?:nuts:
I'm holding, NOT buying more, and violating trader rule #6 by praying and wishing and hoping.

Lady

[Gumby]

Sold position in USO @ $27.06 9.7% profit:)
Long DUG @ $29.22

Sold DUG @ $29.25
Didn't make my commission on that one:nuts:

[Gumby]

I was thinking the same thing. It's sort of like all of us playing chicken at the same time on the same road. :toung:

I just hope it works out:)

[Gumby]

Long SDS @ $85.05

surely this rally is about to play out:nuts:

[Gumby]

Limit order in for FAZ @ $33

Will it bring more pain?:unsure:

[Gumby]

FAZ filled @ $33

[Gumby]

The FED is going to buy the money they are printing??
WOW.....you have got to be kidding me.:(

[JTH]

The FED is going to buy the money they are printing??
WOW.....you have got to be kidding me.:(

You and me both buddy!

Nothing like a little fed intervention to pee in your wheaties :toung: That's fine by me, it will hurt today but the hype won't last long. Besides, now will be the perfect time for some of us F-Funders to make a gracful exit. :)

[Gumby]

You and me both buddy!

Nothing like a little fed intervention to pee in your wheaties :toung: That's fine by me, it will hurt today but the hype won't last long. Besides, now will be the perfect time for some of us F-Funders to make a gracful exit. :)


Does the FED have enough money to buy all the outstanding bonds?

The quick question that comes to mind is what is going to happen to the dollar?

I find it hard to believe our own government is going to such extremes as buying its own bonds.

Denninger has some revelations about Bernacke's action today.

Denninger Predictions (http://market-ticker.denninger.net/archives/2009/03.html)

We are in for a rocky road ahead.

Denninger's Abyss (http://market-ticker.denninger.net/archives/756-On-The-Edge-of-The-Abyss.html)

[Gumby]

Limit order in for FAZ @ $33

Will it bring more pain?:unsure:

I've been smashed.....don't know whether to throw in the towel and sell or just grin and BEAR it.:confused:

[350Z]

I've been smashed.....don't know whether to throw in the towel and sell or just grin and BEAR it.:confused:

We've gone from extremely oversold to overbought in about a week. SPX just bounced of the 50 and the top of the Bollinger band. I'll sit through this pain.

41

[JTH]

We've gone from extremely oversold to overbought in about a week. SPX just bounced of the 50 and the top of the Bollinger band. I'll sit through this pain.

I don't know squat, so I'll just spout my opinion. The baby bull got its 800. FAZ is now at a 52 week low :)

[Gumby]

I wonder how much $$$$$ Bernanke made for China today. With the price bid up for bonds and the yields tanking, will the Chinese tender bonds and move to different currencies or comodities?

What is going to happen to our country if we have a major increase in oil price or a terrorist event?:(

What is the FED going to do about the rampant inflation that is bound to happen from this action?

[Gumby]

May have to take a deep breath and let someone else own my FAZ.
March was a tough love month for the bears.:rolleyes:

[etftalk]

We've past the threshold of misery (poker term created by Mike Caro).

[Gumby]

We've past the threshold of misery (poker term created by Mike Caro).

Tom,

I hope you are right. I think my threshold was reached about 2 weeks ago.:bigsmile:

Seems like the market has rallied on every piece of bad news because the number(s) were not as bad as they could have been? I am amazed at the extent of this rally. I am even more amazed that I didn't stay longer in the TSP funds for March.:(

[etftalk]

The threshold of misery is the point where the pain can't get any worse.

In poker, if you lose say $100 you are not very happy. But if you are down $1700, another $100 is meaningless. Down $1700 or $1800 is the same feeling. You've past the threshold of misery. :)

[Gumby]

Long SDS @ $85.05

surely this rally is about to play out:nuts:

Doubled down on SDS @ $71.90.
Ave price of position ~$78.50

[Gumby]

Sold my FAZ today @ $18.05

Purchased @ $33 , $61.92, and $65

Good ol' 20/20 hindsight...I should have set a stop and honored it:eek:

[Gumby]

Market up like a rocket. FAZ & SDS taking a beating this morning. Looks like the government has the world's problems solved.:bigsmile:

[Gumby]

Sold my FAZ today @ $18.05

Purchased @ $33 , $61.92, and $65

Good ol' 20/20 hindsight...I should have set a stop and honored it:eek:

FAZ @ $10.xx at close. What a difference a month makes on this 3X bear.

[etftalk]

FAZ @ $10.xx at close. What a difference a month makes on this 3X bear.
LOL. I just posted the same post in my account.

[Gumby]

OK, I am going to do it again. I tried to swear off FAZ...but it is a bad habit.
Long FAZ @ $11.20

Atilla bought 80,000 shares in the $9.XX range. Something is going to happen.:eek:

[justbizness45]

Hey Gumby, you still around??:unsure: Haven't seen you post lately.

[Gumby]

Hey Gumby, you still around??:unsure: Haven't seen you post lately.

justbiz
Been on vacation for a couple weeks. Doc put me in hospital for stress test and just got out day before yesterday. I am doing great!
I haven't had time to read up on the markets....but it looks like the market wants to just keep rallying. Doesn't make sense to me.

Back it it today. Just bought SDS @ $62.49

[Gumby]

OK, I am going to do it again. I tried to swear off FAZ...but it is a bad habit.
Long FAZ @ $11.20

Atilla bought 80,000 shares in the $9.XX range. Something is going to happen.:eek:

Looks like my FAZ got stopped out at $8.70.:unsure: I am going to stay away from FAZ for awhile.

[justbizness45]

justbiz
Been on vacation for a couple weeks. Doc put me in hospital for stress test and just got out day before yesterday. I am doing great!
I haven't had time to read up on the markets....but it looks like the market wants to just keep rallying. Doesn't make sense to me.

Back it it today. Just bought SDS @ $62.49

Glad to hear you are OK, stay healthy my friend and stay away from the nasty swine bug.:eek:

[LTB]

yes, don't be doing this....

[Gumby]

yes, don't be doing this....

You mean I can't kiss the pigs anymore? Man, I thought smoking was hard to quit.:bigsmile:

[Gumby]

Looks like my FAZ got stopped out at $8.70.:unsure: I am going to stay away from FAZ for awhile.

OK, couldn't resist. Long FAZ @ $5.90. Atilla is long 150,000 shares.
FAZ is a bad habit for me.:bigsmile:
OK stress test....give me some stress!:eek:

Still holding SDS.

[Gumby]

OK stress test....give me some stress!:eek:



OK, this is how much I trust this government induced frenzie. Buy order for FAZ @ $5.00. Will it fill today?

[JTH]

OK, this is how much I trust this government induced frenzie. Buy order for FAZ @ $5.00. Will it fill today?

Gumby I'm watching CNBC

It appears the Bank Stress Test results are being leaked and the press is not doom & glooming it. :suspicious:

[Gumby]

Gumby I'm watching CNBC

It appears the Bank Stress Test results are being leaked and the press is not doom & glooming it. :suspicious:


The banks know they will get more money from the FED if needed. The true conditions of the bank's balance sheets are not being reported. If the stress test shows a bank needs more capital, then that bank must be in serious financial condition. The government & media hype of the market is appalling....when will it stop?

[Gumby]

What a day! I think this market can stay more irrational than I can stay solvent. Nothing fazes this market. Bad news is turned into good.:eek:
Obamanomics and liberal media....what a combo.:sick:

[Gumby]

Looks like TBT may be a longer term hold. Sold some way to early. Oh well, profit is good.....more profit even better. :)

[Gumby]

ProShares Launches First ETFs to Provide Triple Exposure to S&P 500®

3 times pain....3 time gain

More (http://finance.yahoo.com/news/ProShares-Launches-First-ETFs-bw-15617915.html?x=1&.v=1)

[Show-me]

Now your talking my language!

[Gumby]

Now your talking my language!
Now if I could just figure out when to buy and when to short.:bigsmile:

[Gumby]

I have been holding back but decided to go long UYG @$5.50 this morning.
Maybe the market has more upward momentum?:eek:

[Gumby]

TBT is up like a rocket today. Keep runnin' :bigsmile:

[Gumby]

What is wrong with this? Irrational exhuburance?

Wells Fargo is selling shares at $25 apiece to help repay $25 billion in government bailout funds.
The share price is a 1.9 percent discount from Monday's closing price of $25.49.
They are selling 426 million shares of common stock. The bank had 4.69 billion shares outstanding as of Oct. 30. So this is about a 10% dilution.
Wells Fargo shares hit $26.00 this morning.

So lets see....you dillute the stock 10% and get a 4% rise in share price.
.....And yes, I do have a short position on WFC.....kinda makes me scratch my head.http://www.tsptalk.com/mb/images/smilies/nuts.gif

[Gumby]

Stopped out of WFC @ $26.25 and AMD @ $8.90.....both losing trades for me.:confused:

[Gumby]

Stopped out of short LSI @ $5.80....another loser

[etftalk]

Shorting tech. Yikes!

Looks like shorting $6 and buying $5 has worked for LSI. Pretty clean range.

Better luck!

[Gumby]

Shorting tech. Yikes!

Looks like shorting $6 and buying $5 has worked for LSI. Pretty clean range.

Better luck!

It has been tough being a bear the last 6 months......ouch.:eek:

[Gumby]

Just bought some SDS @ $23.25.......
I'll probably need some luck on this one.:unsure:

[etftalk]

Stepping in front of a freight train, I see. :D

I think we may be seeing a blow-off top, but I don't know how comfortable I would be about shorting. But I am willing to gamble with some VIX plays (VXX) in case we see some downside, but the market looks good and the downside could be limited.

Good luck!

[Gumby]

Stepping in front of a freight train, I see. :D

I think we may be seeing a blow-off top, but I don't know how comfortable I would be about shorting. But I am willing to gamble with some VIX plays (VXX) in case we see some downside, but the market looks good and the downside could be limited.

Good luck!


I am basically looking at the Gap up this morning get filled this week. It will be a short duration trade.
I think the market is definitely getting ahead of itself.

I was following VXX today also, but didn't make a trade. What appears to be a good entry point on VXX?

I also think the downside is limited...... maybe S&P @ 1240-1250.

[etftalk]

Nice trade so far Gumby!

I'm not sure about VXX - I use it more like a put than a technical trade.

[Gumby]

Nice trade so far Gumby!

I'm not sure about VXX - I use it more like a put than a technical trade.


Thanks Tom,

I checked this morning after the S&P moved down and the trade was in the money. I put a stop in at $23.46 before the FED released the meeting minutes and SDS was about $23.59. Just checked and the stop hit and the trade went through at $23.461...... so I made a little bit on it.
I could have made a little more if I would have been able to watch it closer.