no matter what the figure - company still overpriced. should not trade at more than 12x forward earnings - that is a lot lower than here. I will correct if the market does.
When will companies start using real numbers - sure it is 15 cents after you take out all the special items. However, it was not that bad of a Q. Still overpriced at $10 bucks. P/E is still sky high at above 20
It is true that markets can make new highs on low vol and that is what seems to be happening. The up vol days is usually 1/2 to a 1/3 of the down vol days. There seems little conviction to buy, but lots to sell. Does not mean rally stops, but does mean that if we get some really bad earnings and guidance, the drops could be huge. Personally looking for a retest of 1800 Feb lows, however, could see 2200 on the top side.
TZA is also good. Small caps will be most hurt in the type of slowing earning environment coming. They have less ability to support their share prices and bottom line with share buybacks.
Missed that by a bit. Now I don't know. I closed out my UVXY yesterday and sadly went long on TZA - sold at the open, tried 3 times to pick the bottom, lost a total of 4% from yesterday. I am now sitting fully short TZA. The Russell backed off the daily high nicely at the close. Going forward I think upside is limited to 2175 on s/p - or 2 more percent - which of course would mean 3% for the Russell. I think downside is 1600 on s/p which represents 25% from here. Risk/reward definitely favors short at this point. I am not sure about UVXY. If earning are "better than expected" and the market trades sideways or up, UVXY could lose 30% as Aug Vix is still in the 17's with July in the 13's - that is a big gap.
it came within 1 point of the all time high - will this be another lower high - or will they pop that before Alcoa earning on Monday?
What is the reason for this?
Sad - truly sad - bet it was 5 white cops these black thugs killed
This is NOT a stock - it is a leverage ETF - a scam at that. Pure trading vehicle based somewhat on forward vix contracts - shorting it does not cause it to rise or fall.
This is a pure racket.
SDOW average is at $30?? how long have you held it?? More than a year? What about DUST? that has been crushed!! Look at the gold index GDX is only $30 which is still HALF of the $60 bucks from a few years back - gold stocks could still move higher. Yeah I know a lot of them have more debt and are close to insolvent, but gold could still go a lot higher.
I was worried that buying at $8.70 was too high. I thought that it might be trading at a high premium to nav. How does this happen? Most of the other proshares etf's trade much closer to nav. I know that it is hard to judge the spread and swaps during the day, but man this thing is just a licence to steal.
oh and about the r/s - they will love that if this is north of $25 on July 25th. Think of the scalping they can do on this at $100 range - they will make a killing just playing a dollar spread every hour.
Arrgh - My 8.80 buy did not go through. We shall see next week. Have a good long weekend. I think earning are going to be bad. think downside is $7.50 upside is $100 - yes 100!! but that would mean s/p would have to tank to 1500's - which is possible - a 25% correction is not unheard of. Needs to crack the last low around 1800 s/p
I guess people really want to pay a premium to NAV these last few days?
Going to say Nav is around $9 bucks
Got my fingers burned a bit on TZA today - in @ 37.50 - stopped out at $37 - bought back at the close $36.03
1/2 position - we shall see what tomorrow brings - if we get down to the $8.50 range I might pick up some UVXY