Good luck show-me!
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Good luck show-me!
Show-me,
So happy to see you here, I really love your posts over at TSPTalk, following your trades and musings are a must for me!
Show-me buddy where you @?
Bought SDS @ 86.39 come join in watching the market go down in flames :bigsmile:
Hey Show, I just found Proshares Ultra Silver, symbol AGQ, and it's been moving pretty well! Probably not news to you, huh. :toung:
Lady
I'm sitting in some FAZ @ $60 from a while back and a butt load of UCO dca from $10.36 down to $7. If it stays below $6 for much longer, I will back up the truck to lower my average price.
DXO is at a 52 week low and is my pointman for my UCO trading. That low is in and should see a bounce if the world does not split in two and spew us into outer space.
Have a sell limit of $75 on the FAZ.
Have a sell limit of $12.50 on the UCO.
I'm dumping my FAZ after looking at the IYF chart. Tracking error can screw you on these 3X ETF's. IYF is 1X and shows a triple bottom. To me that would mean FAZ should be at its top but is lagging big time.
I'm out!
Thanks for the heads-up and the good explanation about why you're doing it. A good lesson for us newbies to ETFs. You're so good. :bigsmile:Quote:
Originally Posted by Show-me
Lady
Show, I managed to score some more silver bullion today from a local dealer. He let me have it for spot +.10. :bigsmile: I haven't seen it online for less than that.
Quote:
Originally Posted by justbizness45
That is a good premium! Wish I could get that.:eek:
I think he bought it alot cheaper and decided to sell some. I got 100oz (2 50oz bars). He has several customers and was limiting amounts to spread it around.Quote:
Originally Posted by Show-me
That is very sweet!Quote:
Originally Posted by justbizness45
I still own UCO with a average price of $8.60 a share. Bought BGU for $17 a share yesterday.
Just sold my BGU for a 2% profit, I'm worried this rally is loosing steam. Should have dumped my UCO yesterday and bought it back lower.
Great patience with UCO. I assume this is a long term position but you will trade the big moves?
Where's oil going? The dollar is the key. Actually the economy is the key and the dollar will be directly affected. The way I see it, if the economy stabilizes, oil should benefit, but bond yields would likely inch up, causing the dollar to "strengthen?", which would not be great for oil.
Hmmm... How do you see it playing out?
I have limit sells set in the $10 range which is along the 50dma. My concern is becoming that OPEC can not get members to actually cut and the economy falling of yet again to the S&P 550 to 650 level. Tide raises and sinks all ships analogy comes to mind.
Inventory report came out and said we had a 700k build instead of a 1M draw down that was expected.
I almost sold yesterday when I had seen I was break even in UCO dca buys.
I'm getting impatient or is that impenitent.:eek: Gotta watch that spell check!
Quote:
Originally Posted by Show-me
Thanks ShowMe, some of what you said made it easier to let go of my position in ERX. The profits are taken off the table and as usual,I'll wait for confirmation of a direction.
I bailed out because I was scared and now it hits my target in premarket. I must learn discipline.:(Quote:
Originally Posted by Show-me
Faz @ 34.95
Financials are hanging tough today so far. I was hoping FAZ would be flying today with the Dow down 100+.
I'm not getting that either, Tom.
Still holding my UCO but have lowered the price target on some shares to free up capital.
Anybody want FAZ at 26? Crap! O well I will likely double down in the morning sold half of my UCO at a nice profit. Upside down on the other half.
Got some faz at 25.50 and trying to sell the rest of the UCO at a slight lose because of the position on the charts. UCO gapped up and broke the 50 dma and I don't think it can push much higher.
Well I hope you got a better FAZ price then the rest of us did. :wacko:Quote:
Originally Posted by Show-me
Looking at the hourly ADX chart for UCO the +Di seems pretty consistent, while the -DI is a bit too weak and may be ready for a pull back. That's a nice looking chart, I hope it's been good to you. :)
Attachment 45
I have done well with FAZ and I have been spanked by FAZ.
This is one of those ah ha moments when you know it is low enough and I would sell it but I am stuck in the 3 day settlement rule.
How does that affect your selling?Quote:
Originally Posted by Show-me
I can't sell without violating Regulation T and that is killing me because I'm up 25% on this trade from the buy this morning. I wanna sell but will get a warning from ST for the violation and I don't want to burn it yet.Quote:
Originally Posted by JTH
Here is the ST posting about it.
Trading in Cash Accounts
Interpretations of Regulation T, which govern how trades are paid for, state that funds from liquidations in cash accounts will not be available to pay for purchases until the settlement date of the sell.
Credit balances in a cash account may be used for purchases.
• If the account has settled funds, there are no restrictions as to what may be purchased.
• If the credit balance is a result of an unsettled sale of securities, certain restrictions may apply.
• Unsettled proceeds from existing long positions can be used to purchase additional securities as long as the new purchase is not sold prior to the settlement date of the original sale that generated the proceeds used to finance the purchase.
• If it is sold prior to the settlement date of the funding sale without additional funds being deposited, it will be considered a free ride under Federal Reserve Regulation T.
For example, if you sell a security on Monday the 1st, you can use the proceeds to make a purchase prior to the settlement date of Thursday the 4th.
• However, if you make a purchase before Thursday the 4th then sell that new position before the settlement of Monday's sale, you will then be required to deposit funds to pay for the purchase.
• If you purchase on Thursday the 4th, you may place a sell at anytime you wish, since the purchase was made with settled funds.
Mutual Funds and Fixed Income Securities can only be purchased with existing or settled funds.
Yeah, I tell myself I will never trade unsettled funds so I don't get stuck. So far, so good!:bigsmile:
OIC said the blind man. :huh:
I'm lucky (not really) I don't have that problem because USAA restricts access to unsettled funds. I can see it, I just can't play with it. :unsure:
My friend, you need to set up a margin account to get around this problem. Day trader status is the best and you can roll as many trades as you want but you have to make sure the balance stays above $25K at the time of trade.Quote:
Originally Posted by Show-me
Brother, that is next on my list.Quote:
Originally Posted by Gumby
FAZ is going to get killed, just my luck! Only hope is that when the "plan" comes out there will be a sell off.
I decided to sell my DUG and SDS, and will double down on FAZ at 25. I own FAZ as of 41.30 already...need to lower my buy in price and think eventually financials go down again.Quote:
Originally Posted by Show-me
FAZ still has life in it, I feel a pulse :toung: Hey at least it didn't gap lower the the march 18-19 lows. :)Quote:
Originally Posted by Show-me
A few of us here already did that, only difference is you got a better price. :) But seriously, untill SPX closes above 805, I'm in the FAZ camp.Quote:
Originally Posted by Corepuncher
804.13...:eek: