my LCC was my favorite trade, BAC was a no brainer, I bought a large call postion in LCC in the low 5's AMR announces BK and LCC takes off, sold LCC for a nice profit
I did expect LCC to go higher but did not expect it go go up so much after a rival company annouced BK.
You got that right X. I banked on BAC grabbed shares @ 5.01 and sold a little early @ 7.31 but never looked BAC. ;) I used to swing trade FAS and FAZ but haven't touched those for a while and decided to just bank on BAC instead and it turned out to be the right trade. :)
and as long as you understand that you will always have a loss and a gain the key is making your gains larger than your loss, to many times people sell the gain and hold the loss. I usally always sell a loser if i sell a winner and take the differance of the gain.
its basiclly a stradle but instead of using options you use equites.
BOIL HUh never knew this one was out there, looks like a have something new to play with
and yes it mean play with, i never trade these things with money i cannot lose.
This money is the same money i go to vegas with
I just started trading BOIL about a month ago and have done really well so far. My gut told me to get out yesterday and back in again for a bounce. I may lighten up a little once I go in the green but going to hold for now since my position is not that big and like you say, it's a vegas trade. I loves these 2X 3X ETFS been trading them for years. ;)
Timing is everything. I shorted silver yesterday with ZSL @ 8.21 and sold for a nice gain the same day. These kind of moves don't happen very often and you need to watch close and be ready to pull the trigger and stop out if you are wrong. Still holding boil now averaged @ 11.41 but just a small position in case we keep dropping more. I still want some skin in the game in case we get a nice bounce but planning for more bleeding at the same time.