I've held SSO since November. Not as risky as FAS, but still a rollercoaster. A rollercoaster I wish I never got in line for.
They go <i>Up</i> and <i>Down</i> quite a bit each day. What does this mean? <i>...don't seem to be working.</i>
Long term, many of the leveraged ETF's don't. Here's a comparison of FAS with the index it's supposed to follow : http://www.google.com/finance?chdnp...AMEX:RIFIN.X&cmptzos=-18000&q=NYSE:FAS&ntsp=0
Are any of you buying commodities or maybe something else? Or ready to sell? Who's still waiting on the sidelines? Who's in? Are you waiting for pullbacks to buy? Are you waiting for run-ups to sell? Are you just sitting until the year 2015 to look at your stocks again?
Crude oil and the refined products still have high inventory levels with some expectations that prices will be moving upward during the summer. The current price moves are attributed to Dollar - Euro movment and the feeling that things aren't going to get much worse for the oil sector stocks. There will likely be some soft earnings coming up for oil service stocks like SLB, BHI etc. It might cause a dip in those stocks and some of the expected soft earnings might already be baked into current prices. BHP and copper have been making some noise lately. Gold and silver I had been looking at HL and was ready to buy and then it exploded upward. Should have jumped on it right away instead of missing the opportunity.
It seems the best strategy for ultra short/long funds is to short both of them at the start and you are guaranteed to make money.
When is <i>the start</i> that you mentioned? FAZ closed at 19.46 FAS closed at 6.58 Even though it appears that the <i>Authorities</i> (FED and Treasury) are going to do whatever it takes to prevent a financial meltdown, your <i>short both</i> strategy carries a good degree of risk if it was implemented at the close today.
Mango, I'm in copper, but not in the company I really wanted to be in, FCX, which also has gold exposure. It had run up a lot already, so I didn't jump in. I decided to buy some TCK (I can't believe I'm holding onto this junk), but it's performed well lately as it had gotten beaten down more than others during the metals/copper lows. I owned GLD for a while, but got out of it after it shot up. I also bought some QQQQ. Semiconductors also seem to have been/be making a strong move.
From the point they both started trading. They are both down 75%+. you could have done the same with uyg and skf. Short both of them when they started you would be up big. However getting shares to short is hard with my broker.
This is true because the market goes down. But if you short them both in an up market, that doesn't work. While they do naturally seep some value, your FAZ would only be able to go down to 0, while your FAS could go up an unlimited amount. You'd lose a fortune if the market went up.
Yes, we kicked the FCX name around several months ago at perhaps 50% of its current price. SOX (Semi Index) has been noted by several <i>Technical Gurus</i> as being one to watch and looking favorable. TCK has gotten some good press: TCK Upgraded <i> * Upgrades shares to "buy" from "neutral" * Raises price target to C$9 from C$5 (In U.S. dollars, unless noted) TORONTO, March 25 (Reuters) - UBS Investment Research upgraded shares of Teck Cominco (TCKb.TO) and boosted its 12-month price target on the company on Wednesday, helping drive its shares up sharply for the third-straight day. Teck, Canada's largest base metal miners, was up 10.2 percent at mid-morning, helped by signs that 2009 coal prices may be stronger than previously thought and by metal prices -- particularly copper -- that have gained recently on optimism for an economic recovery. Teck shares were up 69 Canadian cents at C$7.47 on the Toronto Stock Exchange. The stock has doubled in value in the past three weeks. UBS upgraded the shares to "buy" from "neutral" and boosted its target to C$9 from C$5, based on expectations that 2009 hard coking coal prices will be $129 a tonne, down from around $300 a tonne last year, but ahead of previous UBS expectations of $85 a tonne. Teck is trying to pay down and refinance a $5.8 billion bridge loan taken on last year to pay for Fording Canadian Coal Trust, which the miner agreed to buy last summer when coal prices were near their peak. Stronger coal prices will both boost Teck's ability to use cash to pay down the debt and make it easier for the firm to sell off a minority stake in its coal assets to raise funds. Teck has been fielding offers from several companies for a stake in the coal assets. It has also sold some of its gold assets and has said it is in discussions to sell the rest. It could also part with its stake in the Fort Hills oil sands project. "Even with the higher hard coking coal forecast, we believe that Teck will be challenged to meet its debt obligation without changes to operations, asset sales and/or other financing," UBS analyst Brian MacArthur said in a note. Copper prices have climbed about 15 percent so far in March, while zinc is up about 12 percent. Teck produces both metals. </i>
Ugh... I upgraded Mango simply because I was shocked to see a black square on there. Guys, please look at the forest rather than the trees. Or go to Vegas. At least you get free drinks there.
Thank you and covered you as well. Even though we are quite different in POV & action on many things, we share a common distinction -- trait -- characteristic in that we are <i>outliers</i> in the huge dataset of Clutch Fans membership. Both of us will gather a good share of <i>arrows</i> from others as this <i>reputation</i> system rolls along. <hr> <i>The rising tide lifts all ships.</i> On a lower price stock like TCK that gets into <i>play</i>, sometimes the movement gets exaggerated and others follow in because that is where the action is. CLF is another stock that has been getting some love.
btw... askdfnhawklejfhaw4ieufbhwkcbsadnmfbasm,dfbwhlefbwelaiyfbwae/fnasdfkjsbnadj,fbsadm,fnbwelfbawelfgwefi;sdafnasdfm,asdnfw.eufnawielufbaweiufbaekfbsdafjsdbaf,jbsdafweuiwia;fbasfnasdfn,menf.wefna.wkefnajfna.j,wnefa;uefnha;iwuefha;sjfhndWTF is all I gotta say about that
i've been on a buy-high, sell-low tear.. as well as a want-to-buy-but-don't-and-then-they-go-on-a-tear tear
If I remember correctly, you mentioned that you are in school for the MBA. There is the potential to gather some good ideas -- thoughts from this thread if one is open minded about things.
