Sure. I tried to send you an email through yahoo, but I guess it didn't get to you. Give it a try on your end. Might work.
In early Friday asian market trading, January '16 WTI futures dropped 2.57%. Keep your eyes on the open. It may be up slightly. I think it could drop below 7, but only for a short time. Anything under 7 is a screaming buy and ripe for a quick day trade.
I never said that. I have no idea what crude will do from now until the end of December. I made a day trade on UWTI this morning. In at 6.99. Out at 7.34 5% profit before 1:00 p.m. on the trade. Moved my portfolio up .8% (I do not risk more that 20% of my total portfolio on deratives). That's how you play this ETN.
I've posted alot on this board during the past 2 weeks. Click on my screen name and read a few. I go into detail that might help you understand how to play UWTI and make money.
UWTI is down about 3% from yesterday's close @ 11:30 a.m.
In principle, I agree. But you would have to have nerves of steel not to want to take a profit, especially with those gains. And you can never be sure when the momentum will shift. If you are among the .001% who are capable of that kind of discipline, more power to you.
Yes, but that trade is base strictly on hindsight. If you bought Apple at $7 and held it for 10 years, you would have made a 10,000% profit. Would you have held on that long? Or sold at 14 and doubled your money in 36 days? I would have been ecstatic. Nobody can pick the very bottom and the very top. And human nature is a very poor stock trader. Woulda could shoulda. Never works.
And you will still lose money if you buy and hold. Please read my post "Why UWTI moves the way it does"
It's not a stock. It's an Exchange Traded Note that uses derivatives to replicate the movement of West Texas Intermediate crude 3X, both up and down. This is not a buy and hold. It's a 1-3 day trade at best. Watch for the dips. Make your money on the pops and GET OUT FAST.
West Texas Intermediate crude is trading in a very narrow range. I have been trading a portion of my portfolio since July and have made about 40% on 26 trades. It has increased my total portfolio by 8%.
Is it a buy? Absolutely, but with some stringent self discipline.
UWTI is an ETN, leveraged 3X by the use of derivatives. THIS IS NOT A BUY AND HOLD. This is a 1-3 day trade at most and you must set up notifications on your smart phone when it reaches price points.
When The price drops, I buy, but with a stop loss of 5%, in case I'm wrong. If it reaches a 10 % gain, I sell.
That's how you make money on a very dangerous and volatile ETN. NEVER look at this as a long term hold. Get in and out fast and you'll to fine.
If I can help, give me a holler.
Let's say you buy a stock for $100 a share and the price drops to $50. The value has dropped 50%. But in order for your stock to recover to the level at which you bought it, it has to increase 100%. Easy enough, and I think everyone can understand that.
UWTI is a 3X leveraged ETN (Exchange Traded Note) that used futures to replicate the price of West Texas Crude times 3....in BOTH directions. Up or down
If oil was trading at $100 a barrel, and dropped 50%, assuming UWTI was trading at $100, UWTI would drop to about $16, not the $50 I explained at the start of this post. UWTI dropped 3 times as far as the price of oil.
Now assume oil is back to $100. UWTI would only be around $50.
Go to Fidelity's website and look up UWTI. Look at the 1, 3, 6 month and 1 and 3 year performance. It's disastrous and always will be unless oil has a massive short term spike.
UWTI is a moneymaker for ultra short traded only. 1-3 days, or as a day trade. I hope this isn't too confusing, but please do not consider a 3X leveraged fund as a long term buy and hold...EVER. You will get slaughtered.
NO NO NO!! You don't understand. It's up 10%. That means it could go up ANOTHER 10%...or 20 or even 30!! Uh uh. I'm smart. I'm not taking a measly 10% profit for holding UWTI between sessions. Geez. What's wrong with you.
Note: This sarcasm has been brought to you by thousands of investors crying in their soup and repeating "I should have sold!"