Welcome and good luck Uptrend!
Rules
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Welcome and good luck Uptrend!
Rules
Good to have you here Uptrend :)
Welcome and good luck
Uptrend, sincere thanks for accepting the invitation to join us here. I am looking forward to your insight and expertise in our discussions! Very cool!
Lady
UpTrend, welcome and thanks for coming over. I enjoy your insights at TSPTalk and look forward to them here also.:)
All in cash at the moment. 110% gain in March. Hoping to do the same in April! Stay tuned!
I considered FAZ last Friday, but did not buy.
Good to see you Uptrend, was hoping you'd come join us.
Bought DRYS @5.07
DRYS sold. Oops I was in a hurry this AM and put in the wrong sell order type. I meant to put in a stop market order on DRYS at 4.72, but accidently put in the limit order. So, I was sold almost immediately at 5.05. So with trading fees I have a loss of -1.37%
I guess there is first for everything. Looking at tomorrows open, I am kind of glad it sold!
Bought FAZ just after the open @17.75 Looking for a sell the news reaction to the mark-to-market accounting rules. Underlying securities are still junk. Heavy buying at the open. Others must agree with me! Also near the bottom of a 10 day channel. Next stop $23.00
Another glutton for punishment. :) We're with you brother.
Not so fast! I know I got creamed today, but FAZ can make big moves. Meet you over in technical analysis to show what I am thinking. Hanging on!
Sold FAZ @ 17.90 (0.84) I had the wrong entry point and the trade was not going anywhere. Do not like to hold this ETF that long.
Well, should have held FAZ today. Tomorrow should open lower due to market green. If FAZ goes below $17 will load up. My market take is on the TSP market talk, if you wish to view. Later.
Wow! Glad I liquidated FAZ yesterday! Just bought DRYS @4.79 It is cheaper than the other shippers, just as good a company and should pop soon. Baltic shipping is weak, but will pick up. Also DRYS makes big price swings for no apparent reason.
Here are some reasons I bought DRYS. Nice uptrending channel, nice as it gets! There could be a little more gap fill down to $4.55, but not that much lower than where I bought. That might be an ideal entry point. Also options show a pop is likley soon, based on where April and May call strike open interest is located, with a big high around $7.50 + premiums. I often use options open interest to help define likely movement, with the addition of chart technical information. BTW, DRYS is expecting waivers soon on some of it's debt, which as I understand it, will make the stock sail to around $6.50 -$7.50. That lines up with options calls.
http://erikmarketview.blogspot.com/
http://4.bp.blogspot.com/_Qdtp9kZdS-.../drys_hour.jpg
http://4.bp.blogspot.com/_Qdtp9kZdS-...0/drys_day.bmp
Sold DRYS @ 5.50 (14.8%)
I was checking out EGLE several months ago, haven't followed up with them so I don't know what to say. I do own another shipper - EXM - it dropped quite a bit but I'm expecting good things from it.
Bought FAZ for a short-term play @9.10 near the close. Wish me luck!
Good luck! You are a brave, brave man. :bigsmile:
Lady
The Slope of Hope blog dude went long DRYS yesterday. FWIW.
http://www.slopeofhope.com/
Lady
Closed FAZ @10.30 (11.35) FAZ hit a brick wall this AM and there is much resistance above. I have a gov day job, so cannot micromanage. Will look for more opportunities tonight.
Bought DXO this AM @2.51, IMO this fall to 2.43 is not supported, and it will regain strength. I waited until DXO gained horizontal support @2.50. Looking to backtest the trading channel and pennant it fell from at about 3.00. I believe the May contract expired today, which might of had something to do with the price change, although I believe the June contract is higher. I am not sure what effect contract changes have though, perhaps someone knows? I can read charts, but don't know what the oil traders are doing. It just seemed to be a good buy, and had chart support. Also, I noted that the dollar was quite overbought, and this affects asset valuation. When the dollar falls, we will get a pop in oil. I feel like a currency trader, when I am trading oil. The same goes for the metals and metals industry and solar, which follows oil.
http://www.nymex.com/CL_term.aspx
Closed DXO position today @2.59 (3.18) Report came out on inventories busting out everywhere -so too soon to play. Will wait for the cartel to tighen up supplies - if that is possible.
Almost bought FAZ, but have not pulled the trigger yet. FAZ came down and gap filled and made a double bottom. Believe the market will roll over soon. Also looking at QID
Forgot to post, but I bought FAZ Thrusday April 23 @7.95 Looking for a rise to the gap near 18. XLF and BKX look to be rolling over today.
Are you sure you didn't buy on Friday? The low on Thursday for FAZ was 8.77. Friday was the only day that it dipped below $8. Thanks
Oops, I just looked at my trading account, bought on Friday. Was going to buy just after the open when FAZ went to 9.17, but I saw a mini H&S forming, went over and looked at the futures that were pointing higher, so was glad I waited, as a breakdown quickly occurred.
Still holding FAZ (in at 7.95) and watching it roll. Looking for an upside target to $13. Will see what develops in the next 5-6 trading days. Thought about selling Tuesday morning when over $9, but held. Hindsight says I should have sold and bought back in lower today. If one had a lot of funds and time to daytrade, one could buy/sell FAS/FAZ every day and make money. Just watch support and resistance lines on the hourly and 15 minute charts. Sometimes 10-20% gain each day.
Sold FAZ just after the open @8.25 3.77 (and glad I did). This trade went nowhere. This market sems to be in denial.
Another try! Bought FAZ at about 25 minutes after the open @5.87. I used an early drop on the 1 minute charts as a double bottom for an entry point, but it bought me, went on down to 5.69 and turned around. Hard to catch this one! At these low prices, one can really accumulate the shares, and if the financials take a good haricut, the up meter will really spin.
The technical reason I bought was because I think the spx 912 pivot should hold up as resistance, and we should get a reversal tommorow or Friday. EWT suggests a reversal for proper wave count. Also the ADP employment numbers were lower than expected, but often wrong. Thinking this was the last Hurr-ahh
Still holding FAZ for now. It went on a raqmpage to the downside, but climbing back. I did not load more. Watching the XLF for clues. We did have a breakout to the upside, right after I bought last week, but that might fizzle. Waiting to see what happens in the short-term.
Today we had several banks raising $ to pay back the TARP. The risk of share dilution should push the financials down.