Anytime you have a ETF that is based on contracts that roll over month to month you will have erosion even in the 1X ETF's GL
I agree the money is great but the taxes are terrible and even though i know everyone here is a law abiding citizen that would never do anything to avoid paying their fair share of the tax debt. When Daytrading you have no choice but to pay what i consider to be a hold up with the high Short term capital gains rate. I use to anchor in Dutch harbor and be able to trade for what ever i needed and when i say what ever, I mean what ever you could think of' I could trade for it. One time we treated one of the Crew to a Bachelors Party and i paid for everything with King Crab (everything including the tips for the girls) You have to love the Barter system.
I will never forget the day i was waiting at the Fuel Dock to fuel up for a 20 day trip and had to wait for a "sport" First he took ten minutes to get up to the dock and even then he just about knock it over. Then it was the gloves and ten more minutes wiping down the teak.... By now i am livid and screaming at the top of my lungs since i am stuck in a 6 knot tide trying to hold my position in between the fleet. Well anyways when i finally got up and was on my way in to sign for the fuel this ole salty guy mumbled "Mis Fit" as i went by. Well by then i was ready to take someone out and must of keyed in on that cause then he added. "Missed to much time from Society to ever fit in". After a second i had to laugh and ended up getting to know and like the ole codger because i realized that he was right. I had been away from all the BS to long to be able to deal with it ever again. It was one of the main reasons i decided to trade. GL
Do you know it is against the law to yell Fire anywhere so i hope for your sake there is and your not trying to be funny.
It was a combination of the drop in the dollar and my Favorite- The decrease in production two reports in a row. only after you look into it you realize that the drop was so small it would normally would not be worth mentioning but the oil bulls are grasping for anything that furthers their view. I took advantage of the drop going into the report to sell most of my DWTI and GASX. So far every spike in oil and NG has been a opportunity to short and i don't see where this one will be any different but i am treading lightly since anytime you have this many shorts anything can happen. If we reach 34-35 i will increase the size of my short positions GL2ALL
Good ole Yahoo, Wrote a reply and posted it just to see it evaporate? As for the report i really don't ever put much into it other than to try to figure out how it will be interpreted. I thought it was a bearish report since it was less than 200 so i was surprised to see it rise after the report came up. The one thing i kept hearing when i was in ND was how much NG and oil there was ready to come out of the ground. Going forward i am a lot more comfortable shorting NG than oil. I still see oil making a retest of the lows but until we take out $30.00 i will trade it with less volume and from both sides going long at 30 and rolling shorter above 33.00 NG i am just short and until i see a reason to change i will add to my DGAZ on any bounce in NG Hope it helped? Lets see if Mrs Myers will let this one go thru? GL2ALL
Filing for Bankruptcy does not necessarily mean they are not still producing. It would depend on whether they filed Chapter 7 or Chapter 13, Chapter 7 means they are locking the doors and liquidating the assets where as Chapter 13 is more of a protection from creditors while they try to get their act together. I made a lot of money shorting GM back in the crisis since i knew they were going to file for Bankruptcy despite what they were saying since it was the only way they could get out from under all those UAW contracts that were running them into the ground. At one time a entry level employee was costing GM over $74.00/ hour with all the benefits from their Union contract. I don't follow that company but would guess they filed Chapter 13. RICE energy is my favorite NG producer. GL
I wish i could agree but any production drop from rig count decline are a ways out. One thing to remember is the Rig is Step 1 in the process so after the well is drilled that is it for the rig. I just came back from ND and there are over 900 wells ready to produce when ever the demand picks up.ND even changed their policy for the time to complete a well to allow these wells that are drilled not to be force to add to the already glutted market. This is where the "Magic" comes from when you hear the news people talking about how they can be producing more with less rigs. It is not magic at all and makes a lot more sense once you understand the process. GL
I take it your talking about Gold? 1200 is the number i was waiting to get close to buy DUST but i nibbled on that jobs report but missed the low of below $8.00 In at 8.22 Also bought back some DGAZ on 15,84 I think the record low unemployment could raise the risk of a rate hike and strengthening the dollar which has been in sell off mode GL2ALL
I already sold over half the position since it was up so much . I had been waiting for 1200 on gold or close to go short ut with that drop in the pre that didn't make sense to me i grabbed some for a trade
I also bought some DGAZ in the pre but i am going to hold until i see atleast 17 + I would love to see NG go up over this month but we keep making lower lows so it is not looking good but it is earlier
It is looking like we have our next victim of the low energy prices. Lynn energy sold the last of it's reserves and is exploring " Strategic Alternatives" which is never a good sign. At one time this was one of the great energy brokers and paid a dividend of 7-10% for years before this latest downturn. This is what we need to see more of to finally put a bottom in. GL2ALL
A option that cost $70.00 yesterday was at $3,800.00 the last time i looked Not a bad profit margin. I was not in but i am in AAPL 96.00 puts
Long time no see. I usually post on the UNG board when i do bother to post. NG is still a short. I sold the last of my DWT and will be looking at DUSK when gold gets to 1200 Hope you have been doing good and as for UGAZ taking off, I have heard that for months. I see no reason not to short although i would love to get more in the 12'a again GL2U
I am moving back to VT in March/ April so i am looking forward to being back up in Ski country. The number i would love to see published is the number of Wells that are producing. That would be some Data that could really show what is going on. As always Keep up the good work.
Dna That is it. I have always said that traders are like ground hogs. If they walk outside and it is cold? They buy NG and if it is warm, They sell So far every spike in NG and Oil has been an opportunity to short and i don't see why this one will be any different. At some point oil will be a buy but i think it will be longer before Ng will break out of this range. GL2ALL