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ProShares UltraPro Short S&P500 Message Board

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  • joetong419 joetong419 Feb 16, 2012 3:54 PM Flag

    Pullback on Dow 12280 area

    But first DJIA wants to see if it can make it to 13000, then pullback.

    Pullback over due - YES, but market can be overbought (like it is now) compared to last year (oversold - July to September).

    Tomorrow should see S&P500 'correct' at least <5> points on the downside. If not, then I blame it on short covering, sending S&P500 to 1365-1370.

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    • I bought SPXU this afternoon expecting a pullback, but I'm holding it now. I did well enough today in UPRO to gamble a bit on this, but I agree SnP overreached and will correct.

      • 2 Replies to rz3456
      • Like you, I play the other side of SPXU, buy/sell UPRO.

        You have more luck dollar-cost average UPRO than SPXU in this sort of 'bull-market. Couple days ago @ 75 looked high; went higher today to 76.30, after going down to 73.xx.

        Unbelievable if UPRO gets to 78, then 80. I'll buy/sell up along the way; just satisfied with a $500 profit.

        Eventually, the downside will come and stay down. Just don't know when.

      • Well, the pullback wasn't what I expected. I hung onto my SPXU until afternoon when I felt SnP was about to reverse direction, sold it at a small loss and bought UPRO twice, finished in cash, less down for the day but up for the week.
        I really want to buy SPXU again to hold for the weekend, I think there's a good chance Greece is bungled again and it's a shame to be stuck out of the market watching it. But, do I feel lucky?

 
SPXU
28.88-1.64(-5.37%)Jun 28 4:00 PMEDT