You are so successful now that you hang out on internet message boards addressing trolls. Maybe you are trying to get someone else's money like some other individuals on this site (like Pabst) and try to gain others confidence by posting up a resume. I saw that Schindler guy come on this board, gain everyone's confidence, take a few people's cash and then his "fund" tanked down 90% on overleveraged bets. In any event, you fail to display the emotional stability of a trader or any other occupation for that matter. You let me get under your skin and who am I? A nameless faceless troll on the internet. Are you the kind of person I would trust my money with? Certainly not. How could you handle my money when you cant even handle a nameless faceless troll...maybe you are a trader much like Brian Hunter who lost billions in short order. California sucks by the way. I prefer destinations like Rio and I will always enjoy the vibe of NYC. It seems fitting that you brag about being lazy out in California. I dont know of any successful guys that brag about lounging about or being lazy. Good work ethic I see you have. However, I grow tired of this game. I am too good of a troll to be arguing with the likes of you. Its amazing how you feel obligated to reply to my posts. Too funny. I loaded up on more TZA on Friday. The end game is near.
This is the final fight. The end game is near. I am holding my shorts until I am beaten to the curb. This market will turn and that turn starts tommorrow. I didnt hear no bell. <object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/i8CNVB6R6yk&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/i8CNVB6R6yk&hl=en&fs=1" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object>
You might be right, but your tragic flaw is your inability to admit you're wrong--at least temporarily. Why not get into these positions when you begin to see the break?
I have been daytrading for about 15 years. You might see me throw up a bogus post or two on elitetrader or ram it down IBKR's throat at times not because Im shorting it, but because I just hate the company. All this kidding around helps the day go by and entertains me. I have never been a good investor, but I am a great daytrader. I saw the wedge on April 15th and I smiled. I knew that price would fall out. I started accumulating TZA there. However, it wasnt just the wedge but many other different factors that caused me to know that its ripe for a fall and soon. Your right, you should wait for the break, but Im not waiting this time because I want to capture the entire move. Its crazy, but you dont read my threads for sound analysis. Go to the Jack Hershey or Ivanovich threads for that. At this point the futures are looking a bit lower and in the red. Believe me, its not because of any news that is out there. Its all because of the chart and how its turning. Look at my ultimate fib fan chart where price hit the line at 666 EXACTLY and then price hit the next one up EXACTLY. Thats program trading taking it to those exact points not news. Price wont be able to make it through the 875 barrier. That barrier is made of concrete and it will take a big truck to get through. Soon all your stops will be hit and you will be hitting your head wondering what happened. Its the age of the machines and they are deleveraging off of a program and price will go to 550 as the machines are programmed to take it there. Where is that specialist? Oh where oh where is that specialist? He cant help you now. He is collecting unemployment while a machine takes us lower and you bang your head against the wall as its all just a mystery to you... Two indexes you should look at... Look at these two charts and tell me what you see...I see a massive dump thats about to occur. Remember that smaller cap stocks usually lead the larger ones. Look at the equal weight index which seems to be moving faster and retracing to the edge of the wedge. The equal weight index is about to fall apart then the real s&p will follow. I bet you didnt know there was an equal weight index. I bet you didnt know that falling the equal weight index while trading the ES is helpful...
And this follows your April 1st call to sell the SPX around 793, currently -9.31% on the SPX, and on the 3x leveraged ETF you are discussing down (1-0.0931)^3-1=-30.62%. So, of course, time to double down. Not like a 31% DD is enough to scare you off. I bet there's at least another 5% more in the SPX to go, and that would bring you to about 50% drawdown, when you're pretty close to being irrelevant in your opinion on the market. I'm up 40% this month, Port, so -31% is a pretty large underperformance that no amount of trading could overcome.
You dont know what timeframe I trade. The way most people talk around here...I think they swing trade or hold for days weeks or whatever with no clue that others may be on a different mindset. I occasionally hold positions for a few days or weeks in my personal account, but I am primarily a daytrader at a prop firm and thats what I do to make my living. Sometimes I will make a call to sell short the SPX and then my target is hit that day or its not hit and then a hard stop is made, I wont repost again because I simply dont care. You may be up whatever percent, but your style of trading is not what I do. I trade on the day...I am out of the markets by the end of the day. I have a compliance manager standing over me and rules to follow. Thats the great thing about working at a reputable firm. They make you play by the rules and that avoids a severe drawdown. I would never brag about being up or down. There is a reason why traders do not discuss gains or losses and thats because you are tempting fate.
By the way, futures down below support line at 845 which would break the head&shoulders if the market was open right now. I added more to my TZA position in my personal account again today.