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Thread: etftalk's Account

  1. #11

    Join Date
    Jan 2009
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    Upstate NY
    Posts
    142

    Default Re: etftalk's Account

    Good idea on the extended weakness. What are you looking for, a move up to that gap around $7?

    Perhaps this is a version of the seven day extension fade?
    http://www.investopedia.com/articles...n-day-fade.asp
    "Don't let your highs get too high and don't let your lows get too low." Bullitt’s Market Blog

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  3. #12

    Join Date
    Dec 2007
    Posts
    906

    Default Re: etftalk's Account

    Quote Originally Posted by etftalk View Post
    Bought UCO @ 5.95
    I actually hate the chart on this puppy as oil looks pathetic. But I am playing this as play on a potential snap-back rally in stocks - possibly before the end of this options expiration week, or next week. Oil could run up 15% to 20% in no time, and this ultra ETF would really benefit. And yes, there is a big gap near 7.40.

    I won't thank show-me yet for the heads up on this one, but hopefully next week we will be high fiving each other.
    -- Tom | My Trades

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  5. #13

    Join Date
    Jan 2009
    Location
    Upstate NY
    Posts
    142

    Default Re: etftalk's Account

    Oh, I know. DXO was a bust, I'm glad I took my money and ran from that when I did. UCO is a better option, though I like the prospects for UGA here sitting on support at 20.
    "Don't let your highs get too high and don't let your lows get too low." Bullitt’s Market Blog

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  7. #14

    Join Date
    Dec 2007
    Posts
    906

    Default Re: etftalk's Account

    By the way, at Lady's suggestion:

    UCO = Ultra ProShare, 2X the Dow Jones AIG Crude Oil Sub-Index (DJAIGCL)
    -- Tom | My Trades

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  9. #15

    Join Date
    Dec 2007
    Posts
    906

    Default Re: etftalk's Account

    Quote Originally Posted by etftalk View Post
    Oil could run up 15% to 20% in no time, and this ultra ETF would really benefit.
    OK, maybe I was wrong. Oil was up 12.3% today, and UCO was up "just" 11.5%. I know Exxon was downgraded today, so perhaps that is why DJAIGCL was only up about 6.5%.
    -- Tom | My Trades

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  11. #16

    Join Date
    Dec 2007
    Posts
    906

    Default Re: etftalk's Account

    http://www.thestreet.com/_yahoo/stor...FREE&cm_ite=NA
    "The fact that Exxon was downgraded by both Barclays and Bernstein today but is still seeing upside "means that oil is done going down," Cramer said. "The oil bears are going to have to put up or shut up soon, and I think they're going to shut up."
    -- Tom | My Trades

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  13. #17

    Join Date
    Jan 2009
    Posts
    84

    Default Re: etftalk's Account

    Quote Originally Posted by etftalk View Post
    OK, maybe I was wrong. Oil was up 12.3% today, and UCO was up "just" 11.5%. I know Exxon was downgraded today, so perhaps that is why DJAIGCL was only up about 6.5%.
    UCO is up 14.86% and DXO is up 11.97% but they track different oils. Dxo tracks West Texas Crude and the other I am not sure.

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  15. #18

    Join Date
    Jan 2009
    Posts
    84

    Default Re: etftalk's Account

    I don't like DXO because it is a Note and not a Fund.

    I have found that some of the new ETF's have a tracking error the newer they are and as time goes on track better to the market.


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  17. #19

    Join Date
    Jan 2009
    Posts
    84

    Default Re: etftalk's Account

    By the way I really envy you again, nice price.

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  19. #20

    Join Date
    Dec 2007
    Posts
    906

    Default Re: etftalk's Account

    I have you to thank. Thanks!
    -- Tom | My Trades

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