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Thread: Uptrend's Account

  1. #11

    Join Date
    Mar 2009
    Posts
    48

    Default Re: Uptrend's Account

    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

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  3. #12

    Join Date
    Dec 2007
    Posts
    906

    Default Re: Uptrend's Account

    Another glutton for punishment. We're with you brother.
    -- Tom | My Trades

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  5. #13

    Join Date
    Feb 2009
    Posts
    8

    Default Re: Uptrend's Account

    Quote Originally Posted by Uptrend View Post
    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
    Still in FAZ at 20.54. I'm still waiting for the sell the news also and the new budget reactions!!!

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  7. #14

    Join Date
    Mar 2009
    Posts
    48

    Default Re: Uptrend's Account

    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!

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  9. #15

    Join Date
    Mar 2009
    Posts
    48

    Default Re: Uptrend's Account

    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.

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  11. #16

    Join Date
    Mar 2009
    Posts
    48

    Default Re: Uptrend's Account

    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.

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  13. #17

    Join Date
    Feb 2009
    Posts
    415

    Default Re: Uptrend's Account

    Quote Originally Posted by Uptrend View Post
    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.
    Good read Uptrend, If we continue the downtrend, I'll Jump in on one of the Fib levels @ 562. Timing an IFT could get tricky at those levels.
    Candlestick crack addict...

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  15. #18

    Join Date
    Mar 2009
    Posts
    48

    Default Re: Uptrend's Account

    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.


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  17. #19

    Join Date
    Mar 2009
    Posts
    48

    Default Re: Uptrend's Account

    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/




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  19. #20

    Join Date
    Mar 2009
    Posts
    48

    Default Re: Uptrend's Account

    Sold DRYS @ 5.50 (14.8%)

  20.  

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