Not worried one bit, will add more if I have to, its a long term hold. End of year target is mid 30's. 20-30% return.
The UYG just took out the mid-April lows today. All moving averages are negative and the price action is below the 10, 21, and 40 day MA. For someone that creates post after post about how badly "tapped-out" the consumer is and how the surge in credit card debt will lead to the next big debt crisis for the BANKS . . . you sure make a twisted case for being long an index that has JP Morgan (5.6%), Citicorp (5%), Wells Fargo (3.8%), Wachovia (2.5%), B of A (7%), the Dow Jones USFN (6%), among others. 20-30% year end target? What kind of drugs are you on? Got anything for SCHIZOPHRENIA???
I can guarantee you that UYG is back between 33-37 within the next few months, that will bring a possible 25% return. Ill remind you when UYG is back above $33.
So you are BULLISH on Banks and the Banking System, even though you posted yesterday that there will be a huge credit crunch regarding credit card debt that will hammer the financials? http://www.elitetrader.com/vb/showthread.php?s=&postid=1944067#post1944067 Or do you simply post out your arse all day long with one "cut and paste" job after another with no rhyme or reason???
One thing I learned in the markets is that whenever someone uses phrases like "I CAN GUARANTEE YOU" or "I SWEAR BY THE MOTHER OF GOD" when talking about market direction they probably are not trading any real money.
. USAtrader 05-23-08 10:01 AM Yes, QID and SDS. Nobody wanted these when they were bottoming a week or so ago