It's a 2x short ETF, so it moves opposite the market. I made money on it Monday and should have sold it at the close. This morning I was just struck by the loss and didn't take action, thinking it would eventually come back, and I let it get worse. I did get out of it and buy some longs, but very late after taking a big loss. I'm new to this and not embarassed to admit I don't know much and am learning by doing it.
No, pretty sure Option Trad3r is poking fun. That IP shows somewhere far from where Stock Trad3r posts - and incidently he (ST) posts from a community college.
I like how they say that the fundamentals of the US hasn't changed. The giving away of billions of dollars is a pretty big change that they have never done before.
10/29 up 10/30 down 10/31 up small to flat 11/3 capitulation dump down rallies are for selling just remember that but if you are nimble short rallies are worth trading
Not at all trying to give you a hard time, and I'm wrong in my analysis as much as the next guy. One of the differences is that I don't try to predict the future as seems SO popular here on ET. Just pointing out some things from my perspective, and again, it's always so easy to go back and see it all in hindsight. And yep, I know it's a short fund and moves opposite the market. That doesn't change the price/volume analysis, though. Keep at it, trade small, and you'll get it.
THAT"S FREAKIN HILARIOUS! My analysis of the guy pegged him as some community college drop out. I nailed the profile!
My advice would be to use the unleveraged one. You may want to avoid leverage for now - and just go for small moves. Shorting on that monday was fine but remember that the market was already low so keep that in mind when holding overnight for the swing. You may want to take your profits faster.
A kid in community college - Ivan, that's fucking perfect! My prediction to Bear about who this kid really is seems to be much more accurate than stock_turk3y's market analysis, LOL! Think he'll disappear quitely now? My guess is, sadly, no.