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Direxion Daily Energy Bull 3X ETF Message Board

  • efarzan2002 efarzan2002 Nov 20, 2009 1:35 PM Flag

    answer please

    what is everyone thinking? Do you think the stock will go back up on Monday or it will continue to dive down?
    I just don't know if I should buy now to bring my average lower, or if I should wait.
    I had bought it at 49 and now I am in deep shit.

    please tell me what you think about energy stock at this time of the year.

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    • what is everyone thinking? Do you think the stock will go back up on Monday or it will continue to dive down?
      I just don't know if I should buy now to bring my average lower, or if I should wait.
      I had bought it at 49 and now I am in deep @#$%.
      ---

      efarzan2002,

      Your purchase of 49 is actually only 44.35, so you're down about $6 now.

      If you ask the old timers here, ERX always cycle back..sometimes takes longer.

      If I'm you, I would average in and stay within $3 from the exit.

      IMO, energy stocks tend to go DOWN during year end.. just look at the chart. But, since we still got low dollar, it is difficult to predict. Oil may spike back to $85 again.. ERX will pop back over $50.

    • can't do much about it today other than dump. But, since you didn't dump earlier in the day, you might as well hold for Monday, IMHO.

      After options get sorted out, you might sell a covered call if you want to keep you holding or just dump it on the next turn to the north. Today with the strong dollar, weak oil, you're not in good stead to dump unless you think ERX will move even lower. It seems to be bouncing off 38 so that's good for your position.

      Good luck

 
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