Kodiak Grizzly or a wimpy panda? Will we see capitulation or do we continue to grind away for months and months? Looks like a long one building to me. I think We are just awakening the Bear. Consumer is just starting to tighten the belt. Spending is going to drop. Avg american family is getting squeezed and just figuring that out. 11K on the Dow would be a 400 p-t drop. This market is waiting to see who will go bankrupt. Will it be a financial, bank, auto manufacturer, builder? Dude was on Bloomin saying chrysler is going down any day. I think that will kick off a nice sell off, So would Lehman or Lennar or some builder maybe HOV. Oil going to what? Inflation Recession Huge housing recession Homes losing value Iran Not exactly positive market fundamentals right now. Discuss
Ask S2007S, he's BEARISH U.S. Equities but has been LONG the UYG ( since the $29 area ) which is now trading currently in the $19 handle. :eek:
You seem to point out that UYG trade but forget about the SKF trade... HMMMMMM SKF is now at 150 after I posted about it being a buy between 90-100. You seem to forget about that trade... Im long UYG and will add more, my next buy in for my long term account is below $19.00 a share.
Say do you ever decide a trade didn't work out the way you planned, take a loss and move on like a trader would? Or do you infinitely average down into losing positions? Adding to LEH & GM? :eek:
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.
Not taking the loss in UYG, will not, I have been trading these proshares for nearly 2 years now, everytime I have held these and averaged down I have come out about 75% of time making money. I own UYG in my trading account and Im now averaged in between 24-25, im not worried, If I was I would have sold it weeks ago. I will add more, I look at it like this, the bull market is not coming back until the financials turn around, so as long as they keep holding down the financials will be in a bear market. The quicker the financials turn around the quicker the bull runs, until then the market isnt going anywhere.