etftalk's Account

[etftalk]

Thanks Gumby. After the two sales, I am now flat and waiting for next trade. I am watching GDX to see if Friday's low holds. I may be reentering.

That's that. Now trading below 32.50, and Friday's low, I will pass on GDX trades for now. From the long side anyway.

[etftalk]

I have a limit order in to buy UNG (natural gas) @ 16.95

More on the reasons...
http://www.etftalk.com/forum/showthread.php?t=394

[etftalk]

Bought UNG (natural gas) @ 16.99

[etftalk]

Bought UNG (natural gas) @ 16.99

Initial stop placed at 16.00, just below Friday's low. I will move it up to just under today's low after the close.

[etftalk]

Limit order place after hours to buy SSO (2X S&P long) at 15.85. Looking for an A.M. opening pop up, but will likely sell right away if we get it (a gap up opening).

[etftalk]

Limit order place after hours to buy SSO (2X S&P long) at 15.85.

Order filled:
Bought SSO (2X S&P long) @ 15.85 after hours.

Looking for an A.M. opening pop up, but will likely sell right away if we get it (a gap up opening).

[etftalk]

Bought UNG (natural gas) @ 16.99

Stop moved from 16.00 to 16.49.

[etftalk]

Order filled:
Bought SSO (2X S&P long) @ 15.85 after hours.

Looking for an A.M. opening pop up, but will likely sell right away if we get it (a gap up opening).

Note to self - This is the type of trade that I SHOULD NOT be making. Playing the long side here is very risky. The trend is down, the market is weak, and we could see an all out puking in stocks (capitulation), and this trade is nothing more than a gamble. Now stop it!

I am actually slightly in the green on this one, but here's where I pray asking the powers that be, if you get me out of this trade unscathed, I'll never do it again (but that would probably be a lie).

[XL-entLady]

You probably did that trade for the same reason I did TNA. It's a bollinger band crash trade and we're expecting a dead cat bounce that we will be watching like a hawk (if I may mix my metaphors ) and we'll sell the minute we clear our commission and a hair more. How was my guess?

BTW, speaking of capitulation, Ira's video today he said when the market goes back up after this one he expects that a bottom may finally be in.
Lady

[etftalk]

You got it Lady, dead cat bounce. That and because 700 held. That's a plus if there is one to be found.