I did, I sold some of my UYG today..... I guess averaging into UYG paid off greatly. How many ran away from the banks in the last few weeks, most of them are up over 50% in only a week, I think UYG heads back down so Im in SKF now.... This is NOT the beginning of a bull market.
Stop making me LAUGH man! You bought the UYG at $29 and watched it head straight off a cliff and down to $14.00 And the entire time you were "bashing" the Fed, the market, etc. (Nice risk management by the way) Even if you bought back in under $17.90 you'd be lucky to have broken even at today's closing price. By the way, my post was congratulating Atticus on a great observation of the XLF volatility "spiking" while most ET'ers here were still looking (incorrectly) for the VIX to surge higher and well into the 30's. But thanks for stopping by.
Five straight up days!!! Long and strong. Bull run to the max. To infinity and beyond. The fed will rescue any bank in trouble. now is the time to get in the market. don't fight the fed. Ben knows best. Buy buy buy!!! Chaching chaching -- $ millions to be made
Not only did I buy it at 29 but I also bought it in the lows 20s and traded it a few times in the teens, I actually sold "SOME" of my position yesterday at a profit. You actually think I bought it at $29 and haven't bought a single share since, I averaged down many times. After buying it at 29 I bought in at 24 and again around 20-21 and sold my last 2 buys above 24 this week. I also traded it in the 16-20 range many times. Aside from that I sold most of my DUG in my IRA today at 37.50, you know the inverse etf you thought wasnt a great investment. You know the ETF you thought I was paper trading, HAHAHA. Here is the post from 6/30/08 S2007S Registered: Aug 2006 Posts: 6870 06-30-08 02:09 PM Quote from Landis82: I don't think he really trades. His positions are so convoluted none of them make any sense. Short Oil ETF's, Short the U.S. stockmarket, Long financials (UYG). Just doesn't make any sense. Moreover, he never uses any stops. Ever notice that? He never closes out a losing position. He always averages down into oblivion. Buys the UYG at $29, then says he buys it again below $19. Same with the DUG at $37, then $26, etc. Calls everything that goes dramatically against him a "bubble".No stops, no money management rules, nadda. Seems like "paper-trading" to me. Either that, or he works for ET making one "cut and paste" post after another in order to create web-activity for Baron. You dont believe me, I dont understand, you think im making up my trades, I own DUG at 36-37 range and again around 29-30 range which gives me a cost avg around $33.00 DUG cost avg $33.00, its trading around $26 and change, if you look at some of my previous post my next buy is under $25.00. DUG can jump back to $40 once this oil nonsense is done with I also own UYG with a cost avg of 24-25 a share, this is one of my longer term holds, pays a nice dividend as well. These are proshares, there not individual stocks, I dont trade many stocks, I would rather buy the sector then buy the stock, less risk, as for UYG it will roar back when the time comes, my price target on UYG still stands at 32-34 by end of 2008 early 2009.
How's that UYG investment doing for ya? Averaging down into oblivion again with no stops, as usual? Now trading $8.12