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ProShares Ultra Real Estate Message Board

  • djdargen007 djdargen007 Feb 24, 2009 7:50 PM Flag

    Are we still on ignore Intpilot?

    Maybe you should listen and learn? Classic oversold position that you were blind to occured while you were scorning the board. We still might have a 2-3 day rally before profit taking and then sideways to downside trading. A seasoned trader understanding technicals saw the "classic" oversold condition at the end of the day on Monday, yet you were still talking garbage hoping for a continued downturn. you might be right come March but you wasted a trading opportunity for a quick 50% return. Good trading!!!

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    • Finalized the trade from yesterday; with some more purchases of SRS 750 shares @ 77.92. Sold 750 @ 78.93. Hard work for $750 profit. A very difficult trading day. But I'll take it. Should have sold near the opening when it went up to $83.49. Unless big news next week, i.e. reinstitute the uptick rule, eliminate 2x/3x funds, etc. SRS will likely see 100. Too chicken to hold over weekend. Will re-evaluate Monday. My advise is to trade SRS and either sell or sell short URE. I agree with Intpilot that this will go to less than $2.00. GLTA in yoour trades.

    • i just got out of POT last week when it couldn't break through it's resistence. i like the ag sector alot and will research MOO this weekend. thanks for the tip!! good trading to you as well.

    • Well dj,

      The only sector I would be buying is etf MOO. Because it has showed great relative strength. I would slowly be enetring a position for a long term hold. I would be buying the dips over the next 12-18 weeks.

      Personally, I like the excitement of trading. In & out :)

      Good luck.

    • Thanks, again. Just bought 600 SRS at 77.89. RSI rising and MACD turning positive again. I will be holding overnight and will watch closely, with tight mental stops.

    • I haven't seen any reason to believe it won't be.

      That said you cant hold a 3x short etf like FAZ overnight. In my humble opinion, you must have plenty to learn and it would be suicide if you did and got burned!

      Please dont get greedy and make that mistake. Even in this market the odds favor longs 3 to 1. 3x etf make it 9-1.

      I would rather use a long pivot point in a bear market. Patience makes you money as you look for good setups.

      The govt might one day get it right and you would be trapped.

    • Fair enough. Do you think that FAZ will be up tomorrow. I do not think that Obama's plan for shoring up banks will be seen as a positive. As always, your thoughts are appreciated and well respected.

    • I pop in and out of things. Unfortuately, You won't be able to keep up with my trades real-time. You have to learn to make your own trades.

      We can exchange ideas. Best I can do.

    • He only shows up down days. Definetely Ignore list

    • Haha.

      I know exactly where we are: No stock, index, or commodity moves in a straight line forever, and yesterday's rally has the look and feel of a counter-trend up-zig prior to the next move to new lows. If the end is to come in normal Elliott fashion, then the current move would be wave 4 of a larger Wave 5. Since wave 2 was a sideways M pattern, the rule of alternation says the current fourth wave should be a straight up/straight down inverse V pattern.

      I was daytrading Citi yesterday. Got in after the first volume tick. Sold end of day. Back in cash and ready to play again today.

      Just because my macro view has been stated, doesnt mean I dont trade the smaller cycles on oversold conditions.

      Good Luck

      My definition of Luck is Opportunity + Preparation = Luck.

 
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