Looks like your UPRO target hit as I was typing. I'm tempted to sell, but I still think we see a nice bump tomorrow.
Thanks, but I'm really just breakeven for the week. Unfortunately I didn't lay a stop down with NVDA, which is off about 5% and I entered ITUB too early. Also cut and ran from TZA waaay to early, but I am a chicken short...
So are you planning on selling UPRO at 2014?
I think a lot of this downturn was due to the 1pm bondsales. Now that we have that and the Fed behind us, I think we rally back up to the 2050 range.
I assume you're referring to this? Wouldn't want to give those pesky consumers too much spending power...
Richard Gilhooly, U.S. director of interest-rate strategy, said the language in the Fed statement’s hinted that the central bank is becoming increasingly concerned about falling inflation.
“However, the reference to inflation having declined further below the longer-run objective (‘largely’ reflecting energy, revised from ‘partly’) is an admission of inflation moving in the wrong direction, even if they still consider the move transitory and a boost to household purchasing power,” Gilhooly said in a note published Wednesday.
Bought a bit of UPRO at 120.75 in PM.
We could have some support at $SPX 1994. If that fails, the 200 SMA is in the mid-1970s
Another nice catch RQ. I don't have the flexibility to get too cute with the market right now. I am typically away from my terminal for the last 30-60 minutes of trading.
Stopped out of TZA at $12.25. Picked up a new ITUB posiition at 12.95.
Time to play earnings roulette with ITUB and NVDA.
We'll see how it goes. Hopefully longer term this time. Position is pretty small and I plan on averaging down if necessary.
"Still holding other buys and added some yesterday at 129.59. Could have sold it all at a profit yesterday but chose to hang on. I suck at coin flips."
Tell me about it. I did the exact same thing with my UPRO/XIV buys that I took a small loss on. ERX pulled me out of the hole, but the outcome could have been much better. Cash is king in this kind of market if you don't time your position perfectly.
$DAX tends to lead IMO. Not looking good one day after the Greece announcement was completely blown off. That signals distribution to me. Agree that the Fed announcement is the next X factor, but I think that will be taken as the next bad news leg down.
I had three posts deleted yesterday before I finally gave up. Looking pretty bearish this AM. I think the Greek worries are going to continue to cast a black cloud. Still in NVDA, but mostly cash. I should have kept my buy limit in on TZA at $12
Definitely an inflection point. I'm not going to be sold on the bullish case, though until the markets post a higher high.