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Direxion Daily Emrg Mkts Bear 3X ETF Message Board

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  • sah1958x sah1958x May 26, 2010 11:15 AM Flag

    Just sold out of EDC position. $21.70

    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.

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    • I just got a by signal to short the living SH_ _ out of the S&P index on a power move with a 112 stike price , buying 1000 put contracts, that all started when SPY was at 109. this is most likely a day trade only, unless the momentum is very powerful near the close.

      • 1 Reply to sah1958x
      • If Bruce is going short - I'm going long. I simply trade the opposite of Bruce and am rapidly becoming wealthy.

        Bruce = IDIOT Contrarian Indicator

      • S&P up 8 points since your post. Maybe your monitor is upside down? That would explain your problems with trading since January. Every trade WRONG. Every post WRONG.

        Turn your monitor right side up Bruce!

      • 05-26-2010

        idiots like badaliasforme do not realize the with highly leverage option positions, that a 30 minute hold time is all I needed to make a killing.

        I jumped in the market to short the S&P index at approximately 11:15am and was out by 11:55pm with 1000 PUT contracts at a 112 strike price. 1 contract is 100 shares, so that's equivalent to 100,000 shares. anyhow SPY was at 109.00/share at 11:15 on my entry with a put price of 4.96/share... at approximately 11.55 on my exit, SPY was at 108.48, with a PUT contract price of 5.52. So my profit was 56 cents a share. you times that by 100,000 share, the same as 1000 contracts, than my profit was $56,000 in about 35 minutes.

        of course fools like badalisforme, do not realize that I have this SH_ _ down to a science using a 1 minute and 5 minute charts as part my exit strategy, and a soon as the price for SPY closed above the MA(20) on the 1 minute chart, I was immidiately cashed out with a 56,000 profit, and even had my fingers on the SELL BUTTON THE WHOLE 35 MINUTES just ready and waiting. I love the 1 minute chart especially as my exit chart, because it immidiately allows me to exit with close to all my profits before the tides turn that not even the best fundamentalist trader in the world would have noticed with the naked eye.

 
EDZ
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