JTH's Account

[etftalk]

Good luck JTH. I got your message:

JTH: Bought SDS @ 86.39

[JTH]

Thanks Tom that was fast, you're da heat!

Bought SDS @ 86.39

[JTH]

Good evening's folks.

Feel free to chime in anytime, I love to hear other's perspectives.

I just wanted to post some quick thoughts on my position in SDS @ 86.39. I didn't enjoy missing out on Tuesday's gains, but at the same time I wasn't up to accepting risk, until we got confirmation of a direction.

I plan on holding SDS long enough to make a profit, nothing more, nothing less. If par chance the markets test November's lows, then I'll likely bail to the sidelines, and wait 3 days for my funds to settle, while researching my next move.

[etftalk]

I like the short as I am suspecting next week could be ugly, but that we could see an options related bounce Thurs. or Friday of this week.

[JTH]

Originally Posted by etftalk

I like the short as I am suspecting next week could be ugly, but that we could see an options related bounce Thurs. or Friday of this week.

Thanks for posting that. I saw someone else post something similar in a blog. This serves to remind me that there may be a head fake coming...


http://ew-indextrader.blogspot.com/
"We're getting to the point that the selling should kick in. It could be that the market makers are just trying to get us past option expiration week (Friday). We'll see."

[JTH]

Good evening everyone.

I'm a bit nervous about SDS. Why you might ask?

Because every single source, blog, and forum member I follow are all in full-on bear mode. When too many people lean too far to one side, can the boat flip over?

Honestly, I don't know, I'm just treating this trade one day at a time.

[etftalk]

It looks like you can take some profits this morning if you are getting nervous. Cool!

[Gumby]

Originally Posted by JTH

Good evening everyone.

I'm a bit nervous about SDS. Why you might ask?

Because every single source, blog, and forum member I follow are all in full-on bear mode. When too many people lean too far to one side, can the boat flip over?

Honestly, I don't know, I'm just treating this trade one day at a time.

JTH,

If you are worried about it, I suggest putting in a trailing stop of say 2%. Then just back away and don't worry about it. If SDS goes up you make money. If SDS goes down and triggers the stop.....you make money.

[JTH]

Copy that, guys, I'll put in a stop here shortly, as I've got other matters to attend to. Perhaps It's just weird to see everything you read, plan and watch actually come true?

[JTH]

Originally Posted by JTH

Thanks Tom that was fast, you're da heat!

Bought SDS @ 86.39

Sold SDS @ 91.40 for a profit of 5.79% (not including transaction fee)