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Direxion Daily Emrg Mkts Bear 3X ETF Message Board

  • cmegladon cmegladon May 26, 2010 10:54 AM Flag

    Just sold out of EDC position. $21.70

    Entered 50% position in EDZ $54.60

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    • s&p 500 is going to earn 80 dollars this year, 100 dollars for 2011

      shorting here is beyond stupid.

      my position: bought edc at 20 yesterday after hours

      • 1 Reply to tinger33
      • tinger33

        Nothing goes straight up or down. there will be curves and zig zags along the way. Even a 20 minute curve could make a killing in a highly leverage option position on a call or put contract on the SPY index. my idea match up is either catching a bull run in a bull market, or a bear run in a bear market.

        right now, we have a bull run in a bear market. A one day gap up does now take away the bear market that has been in force since April 27,2010.


        so it really doesn't matter to me whether S&P goes up or down, I could care less, because I am never classified as s a bull or bear... I only care about volatility. The more volatility, the bigger the profits. I have had a series of big wins with put contracts shorting the S&P index since this bear market began back on April 27th, 2010.

        Lastly, I am at all cash again waiting for one of 2 scenarios to happen.

        scenario #1: since this is a bull rally in a bear market, I simply wait for the bear rally to kick in... that way we'll have a bear rally in a bear market. the most profitable way to make money.


        scenario #2: the bull rally is able to sustain itself to the point that the bear market turns into a bull market. than we have ourselves a bull rally in a bull market. a very profitable proposition.


        but the way things stand now, trying to make money in a bull rally in a bear market has just as many cons as it does pros. sometimes it works, and sometimes it doesn't. if one does a back testing history over the last 20 years trying to make money in a bull rally in a bear market, it is pretty much 50/50 because even thou the short term trend and momentum is bullish over the last 24 hours, the general trend and momentum is still bearish over the last few weeks, so the bottom line is the over all bearish market is capable of squashing out the current bullish rally at pretty much any given time, with absolutely no advance warning. which brings me back to my original point.

        I am at all cash again waiting for one of 2 scenarios to happen.

        scenario #1: since this is a bull rally in a bear market, I simply wait for the bear rally to kick in... that way we'll have a bear rally in a bear market. the most profitable way to make money.

    • Nice to see another good trader on the board cmeg. Thanks for posting.

      BTW sah1958x is Bruce - our board idiot. Don't waste your time. All bullshit. All fantasy. All WRONG. Bruce started with 15K March of 09, now claims to trade with two billion dollars. He is down to 2K or lower.

    • Funny post Bruce - tell us another one.

    • Uh, I don't think so.
      You watching EEM trend lines?
      You watching DXY trend lines?
      You watching SPX?
      And one BIG mistake yur making.....you are calling this a BULL market?
      GL to you.

      • 2 Replies to cmegladon
      • sterlingintentions2003 sterlingintentions2003 May 26, 2010 12:24 PM Flag

        CM . . . keep in mind that a close above 1076 creates a candle pattern that suggests a counter trend. I'm sure not telling you how to trade . . . I mean who the hell knows at this point? I got out of EDC at 21.67 and back in at 20.83. There always seems to be a bounce to the market upside from 11:30 - 1PM ET. - GL

      • cmegladon,

        I never mentioned whether I was a bull or a bear. did I? my whole point is learn to be a little more patient trader, and you'll deepen your pockets. by the way, I only trade option contracts on the S&P index, because it's a lot more profitable than trading stocks or 3x ETF's on a ratio as high as 100 to 1. so it fits my style perfectly, since I like making my money really fast with the advantage of being able to move in and out the markets very quickly.

    • jumping in on a bull rally in a bear market has no clear advantage. Don't believe me, do back testing analysis over the last 20 years and see for yourself. it's just another 50/50 proposition where one would have just as much of a chance walking in a casino and throwing their hard earned money on the craps table.

 
EDZ
30.69+0.66(+2.20%)Sep 19 4:00 PMEDT

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