Vector dropped its value on GPL to $0.60. I am in at $2.06, and wondering if I should take the loss, and move on. One of my newsletter guys thinks we could make another run at $26 silver, before we see a strong move higher. Don't know where $26 silver would put GPL price.
Just saw $8.81 value at Vector Vest after posting somewhere else that I was looking to get back in on a dip this week. Think I am going to stand down now.
I got in earlier this year around $19.66, took the ride down to $13.61, and sold 12/20/12 at $20.50.
PLUS, there is the risk that the US Dollar could gain, based on how the Fiscal Cliff plays out. Strong dollar equals BRFS dropping.
What do you mean the downside is 10 points? Current bid on TVIX is $9.76.
Or when you say 10 points, do you mean 100% loss?
Here is the link you might be requesting:
Silver will probably be going upwards of $75, but the question is on what time line? If it goes to $75, but one ends up with an 8 percent annual return, then what was the point?
With the possibility of a 1:4 reverse split coming as early as tomorrow on ZSL, one might consider the following:
1) Start any new long positions so that the total number of shares, divided by 4, equals a whole number. For example, if you buy 100 shares, you will be adjusted to an even 25 shares (100/4 = 25). From the ProShares website, here is why:
"For shareholders who hold quantities of shares that are not an exact multiple of the reverse split ratio (for example, not a multiple of 4 for a 1:4 split), the reverse split will result in the creation of a fractional share. Fractional shares cannot trade on the exchanges, so post-reverse split fractional shares will be automatically redeemed for cash and be sent to each shareholder’s broker of record. This redemption may cause some shareholders to realize gains or losses, which could be a taxable event for those shareholders."
2) Some brokerages don't adjust to splits immediately in their systems. If you are day trading ZSL, then you will want to be on top of this.
If ZSL splits, then it will have a new CUSIP number. According to the ProShares site, this number is: 74347W643
3) If you have time to do the research, there is a way to play this type of stock split for a little extra $$, as ZSL could trade below $10 for a little while, before the split kicks in.
NOTE: I cannot find anything in the prospectus that says ZSL will reverse at $10.
First waiting to see if we hit a new 52-week low below the current one of $10.63.
I believe the Stock Trader's Almanac says Friday, Oct. 27, 2011 is supposed to be a bad day for the market. Silver might get knocked down during the day, but there is probably going to be a lot of euphoria carrying over from Thursday, and the Euro news may be too strong for the Almanac to be correct.
I was in ZSL this week at $12.54, and got stopped out at $12.23.
I am down just over $1300 trading ZSL this month.
Since silver just will not die, even though so much analysis has silver dropping to the mid 20s, good luck timing the drop there that may never happen.
If the Almanac is correct though, then one should get a nice move in ZSL tomorrow.
I got 200 shares at $12.54 today. ZSL went as high as $12.78 bid during extended hours trading.
I decided to hold overnight. Looking to see if silver drops right back to $31.50.
With technical resistance for silver at $33.58, and so much technical analysis out estimating that silver will continue down into the $20s, ZSL is not the worst bet below $12.90:
If the dollar is poised to go up, and oil is about to come down, then silver should take a nice drop when the dollar and oil move.
I am one who believes in $50+ silver, but I think we get a further correction before we go back to $50.
Note: Currently long ZSL.
Points of ZSL:
1) To take a short position in silver that moves two times (2X) faster than the change in the silver price.
2) To be able to short silver without having to have a futures trading account.
3) To be able to hedge a long position in silver.
4) To feed a gambling addiction, as leveraged ETFs tend to move fast, and give action.
5) ZSL resets each trading day. The reset can cause you to lose money:
Note: I am currently long ZSL as of today. In at $12.54, and holding overnight.
If you are going to leave Fidelity, then allow me to suggest that you really shop around for the brokerage to which you are going to move.
There are some great deals out there, and some moves include free day trading classes, and other classes.
I heard about the cycles person a short while back, but hadn't tried to find him.
Thanks for the link. Very interesting material.
Today is looking to be the "in at $12.50" day. As I write this at 6:12 AM ET, spot silver just crossed over $33, and the Ask price for ZSL is $13.30 at Scottrade.
If "congestive resistance in the $33.58-32.85 area," then seems as if one needs to hold off on ZSL today until spot silver crosses that $33.58 mark.
Also, remember that Proshares resets the price of ZSL at 7:00 AM ET time each trading day.
I do not have a position in ZSL now, but I plan to go long today if we get that $33.58 cross.
Do you mean the first 30 days that you have the new account open with Fidelity, or 30 days is always the policy?
Got 310 more shares at $14.03 plus commission yesterday, Thursday, as spot silver went over, and then just under $32.00.
The Friday morning headlines on silver all seem to be very positive...gonna be a long day it appears. Silver at $31.88 as I write this at 6:34 AM EST.