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Thread: Gumby's Trading Account

  1. #191

    Join Date
    Jan 2009
    Posts
    215

    Default Re: Gumby's Trading Account

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

  2.  
  3. #192

    Join Date
    Dec 2007
    Posts
    906

    Default Re: Gumby's Trading Account

    Stepping in front of a freight train, I see.

    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!
    -- Tom | My Trades

  4.  
  5. #193

    Join Date
    Jan 2009
    Posts
    215

    Default Re: Gumby's Trading Account

    Quote Originally Posted by etftalk View Post
    Stepping in front of a freight train, I see.

    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.

  6.  
  7. #194

    Join Date
    Dec 2007
    Posts
    906

    Default Re: Gumby's Trading Account

    Nice trade so far Gumby!

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

  8.  
  9. #195

    Join Date
    Jan 2009
    Posts
    215

    Default Re: Gumby's Trading Account

    Quote Originally Posted by etftalk View Post
    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.

  10.  

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