No, Port, no such reversal was made unless it was after the fact. You're still down that much from your original call on April 1st. I guess if you enjoy holding through large drawdowns it will work out for you.
I think what Port was saying is that he makes calls, and by his way of trading is out by the end of the day because he day trades and is not a swing trader, and does not always come back to this site to post exits. I think that's what he's saying.
Port doesn't day trade. At least not with money. This thread, like many others of his, was a disastrous trade. He's the next best thing to stock_trad3r when it comes to contra indicators.
At some point "Isn't it embarrasing?" as lindq asked weeks ago with the sell short call on April 1st. I think it best to ignore Port as he is obviously oblivious to how disastrous this call was, either the one at the beginning of the month or this one to "double down in your 3x inverse positions." I wouldn't give a second thought to anything he has to say.
Dude. You're an idiot. If you do happen to make money in any of your leverage ETF trades on the long side, regulate that to luck. You're going to need a prolonged, multi-day, large percentage down for you to even get back to flat in your positions. You're trading on hope. You better HOPE that the stress test results are far worse than expectations or that the unemployment report next Friday is far, far, worse than expectations. Sadly for you however, is that the market now rallies into bad news. Read the prospectuses (or is it prospecti?). Whatever. Direxion fully expects these ETFs to eventually go to ZERO. They will expire and you will be sitting alone dreaming that a new financial crisis will develop that will send FAZ skyrocketing toward $200. Do yourself a favor and don't wake up from your dream to face the nightmarish reality that your account balance is zilch. Hope isn't a winner's strategy in stock markets. However, hope does win elections. You ever thought about a career in politics?
Like when he said to short LVS in the 4s http://www.elitetrader.com/vb/showthread.php?s=&postid=2401324#post2401324
Ah, the et experience has been quite good without useless calls. He has now reached the -50% DD and has lost all credibility on these calls. Doubling down would be a complete and total loss of the entire account. Great call, and this is how people jump out of windows.
It would be in your own best interests to reconsider that position. The guy who's always wrong is just as useful to me as the guy who's always right.