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Thread: XL-entLady's Account

  1. #21

    Join Date
    Feb 2009
    Posts
    654

    Default Re: XL-entLady's Account

    I bought UCO at $6.00 and GTU at $42.59 today. I was so busy looking at UCO timeframes on the charts to judge the trade and a buy-in price that I forgot to get GTU at the open. And it cost me about $.40 a share.

    Thanks to Show-me and Tom for the heads up on UCO. I hadn't seen that one coming!

    Lady
    If you think education is expensive, try ignorance. - Derek Bok

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  3. #22

    Join Date
    Feb 2009
    Posts
    654

    Default Re: XL-entLady's Account

    I bought the GOE Gold Index ETN yesterday at $31.75 and it promptly fell by about 12%. I felt so dumb that I didn't even want to post the trade. Now today it's at $35.96 and rising.

    This one is so volatile that I can't decide where to put my stops!

    Lady
    If you think education is expensive, try ignorance. - Derek Bok

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  5. #23

    Join Date
    Dec 2007
    Posts
    906

    Default Re: XL-entLady's Account

    What a rollercoaster. A physical stop doesn't seem practical. They will probably hit it eventually. I'd use a mental stop and if hit, watch for a good place to exit (next rebound, for example).
    -- Tom | My Trades

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  7. #24

    Join Date
    Feb 2009
    Posts
    654

    Default Re: XL-entLady's Account

    That's good advice. Thanks for taking the time to share it! I think I'm glad my GOE gold index ETN is a relatively small position in my account!

    Lady
    If you think education is expensive, try ignorance. - Derek Bok

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  9. #25

    Join Date
    Feb 2009
    Posts
    654

    Default Re: XL-entLady's Account

    My GOE gold ETN is going wacko to the upside again today. It has a 30% trailing stop on it and the stop is above my purchase price.

    My MOO agriculture stock (quit grinning, Tom!) has just about reached my mental stop. Although I think it still has good prospects in the intermediate term, for the short term I'm thinking seriously of selling it and researching an agriculture short. ADZ is a short that's doing well but it's an ETN, and I'm going to try to stick with an ETF.

    Right now most of my account is in precious metals one way or the other, and today I'm glad.

    Lady
    If you think education is expensive, try ignorance. - Derek Bok

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  11. #26

    Join Date
    Dec 2007
    Posts
    906

    Default Re: XL-entLady's Account

    That GOE is something else. Who needs Vegas?
    -- Tom | My Trades

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  13. #27

    Join Date
    Feb 2009
    Posts
    654

    Default Re: XL-entLady's Account

    While I was doing my weekend research yesterday, I found a handy ETF Screener site. It is a sub-page of the http://www.etftrends.com/ site, which is rapidly becoming one of my go-to sites for finding ETF information.

    The ETF Screener is at http://www.etftrends.com/etf-tools/etf-analyzer/

    I don't know if any of you have used it yet, but I thought the site was my little gem find for the day!

    Lady
    If you think education is expensive, try ignorance. - Derek Bok


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  15. #28

    Join Date
    Feb 2009
    Posts
    654

    Default Re: XL-entLady's Account

    When I was looking over the charts last weekend and saw how hard the indexes were riding the bottom Bollinger Bands, I decided to do a Bollinger Band crash trade yesterday. So I bought TNA at the open yesterday morning and got stopped out immediately. I was so sure of the trade that I bought it again and then got stopped out again!

    Now one of my paid subscriptions says he's buying TNA and FAS this morning on a Bollinger Band crash trade because there is a 95% probability of it being a good one. And Quantifiable Edges has a whole column about why that should be a good bet:

    Another Study Suggesting A Short-term Bounce


    "Monday marked the 5th day in a row that the S&P 500 closed below its lower Bollinger Band (20 period, 2 std dev). Looking back to 1960 I found only 23 other occurrences. Of those, 22 managed to close higher than the trigger-day close at some point in the next 3 days.

    Unfortunately, as you can see from the table below, the edge has been very short-term:




    As this selloff has worsened more and more evidence is suggesting a bounce is well overdue. To this point, though, the bounce has evaded us. I expect it shouldn’t be too much longer until we see it."

    http://quantifiableedges.blogspot.com/

    So the technicals say that it really SHOULD be a good trade. And my subscriber email and a very good blogspot are confirming it. But I keep thinking about the old saying about "the markets can remain irrational longer than you can remain solvent." At this point I don't know whether to try a third time or not. {sigh} I'm thinking about going in again but with a small position and NO stops. (I'm developing a love/hate relationship with stops, mostly "hate.")


    Lady
    If you think education is expensive, try ignorance. - Derek Bok

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  17. #29

    Join Date
    Dec 2007
    Posts
    906

    Default Re: XL-entLady's Account

    So take the money and run, huh? That's my plan with most long positions right now.
    -- Tom | My Trades

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  19. #30

    Join Date
    Feb 2009
    Posts
    654

    Default Re: XL-entLady's Account

    I'm in TNA again @ $17.13. No stops yet. I'm watching ....

    Lady
    If you think education is expensive, try ignorance. - Derek Bok

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