Better than an Ambien. Not the easiest fellows to understand. Maybe they bought off more than they could chew. The slides weren't even available as you heard the audio. Not surprising the shares are off in the AH. Not very impressive and their numbers were poor.
So you have the down grade two days ago, and that took $2 off the share price. And some weakness today before earnings. Then they blow out the earnings with diluted $2.15 eps and good rev growth. Wow, what a head fake. Glad I'm long.
I closed out my long trade today for a small loss, 1%. Had buys on 10/13 and 10/20, when I averaged down. Should have never held that long. There have been so many trading opportunities that I missed because I was holding the bag. Next time I will enforce the stop loss. GLTA UWTI is a beast.
Just roughly by my figures...the decay is about .5% per day? So in ten days, you are looking at a 5% loss even if WTI stays flat.
That makes sense. Be curious to see if we get a dividend increase, hope so. It will be a tell on how this merger is proceeding.
Even a bullish rig report from BH isn't going to soften this am action with the Chinese cutting interest rates. Agreed that oil bottomed at 37-38, but if we retest that low, UWTI will get crushed even more. With these 3x ETFs, you play the trends. Otherwise you get obliterated, I guarantee you that.
Don't think that is the right move, averaging down. There just isn't much out there to get oil moving higher. All the news seems bearish. How long will it take to get back to 15.83? With the ETF decay, that is a tough bet. I'm long with 1300sh at 10.82 and I'm hoping to get out with only a 5-6% loss. This down trend is persistent.
The msg board is still available. Pick another stock and go to their msg board. Then type in MDLZ at the top/center of the page and enter the msg board that way.
In AH UWTI is trading at 11.44 and WTI is moving up also. Tomorrow could be a nice day. Still long. BH rig report out, another stimulus.
Sold UWTI at 12.35, out with 6.6% profit. Good Luck all.
Took profits today off a DWTI trade, caught 5.3% profit. back into UWTI at $11.57. Expect some bounce up in next 2 trading days.
I don't think you ever get the 3X ratio just based on the math. They promise 3X but deliver less. Secondly, I'm guessing the erosion is something like 1.3% per month with the rolling futures contracts. And that is just a guess. But, I don't hold it long enough for that to have any impact.