Good Morning! As of this moment, I am very tempted to lock in some profits. I cannot claim my expertise in futures to predict market movements. But as a precaution, I have tightened my stops. Have a Great Day!
Depending upon market open today, I will take a position in SRS at open. SRS, made its first appearance in my scan this AM. I am still holding the rest of the ETFs 18.Feb.2009 - 6.45 AM Eastern
a couple challenges.. 1-too many of these have low volume 2-too many have low options volume 3-why not focus on trading opservations for say the top 5 to 10 volume ones that also have great option volume...like...QQQQ or SPY or USO or GLD or IWM etc...
increasenow, Thanks for your comment. I agree with the vol issue, I have been trading very low numbers with the ones with low volumes. Ideally I would like to trade ETFs who at least have 100,000 in average volume. I personally feel QQQQ and SPY are over monitored and could be good day trading tools. I am not a day trader. I admit, my exposure to options is very limited.
Im long SRS as well but my cost average is $60. I have sold about 2/3 of it on the way up and looking to sell the entire position sometime today or tomorrow, waiting for the spx to break lower below 750 before doing so, however this ETF can be $80 on monday and in 2 days be $50 a share. I have had many missed opportunities in these 2X etfs, I had SKF when it ran to $300+ and didnt take profits in about a weeks time it was down over $150, ended up selling for a small gain. Taking profits in the inverse as quick as you can is something you need to do in these bear market, any bear market rally can easily send these inverse etfs down 40-50% in a week or two.
Thanks for your comments S2007S! Yes! I have been burned a couple of times with these leveraged and inverse ETFs. Quick profit taking might be key. Thanks again!
<h3>Portfolio as of 18.Feb.2009</h3> <b>Rank ETF Entry Date Entry-Price Last-Price % P/L </B> 1. DTO 2-Feb 189.91 250.56 31.94 2. SCO 17.feb 52.51 59.19 12.72 3. SKF 17.feb 158.21 170.7 7.89 4. SLV 2-Feb 12.28 14.17 15.39 5. DEE 2-Feb 86 99.52 15.72 http://investics.wordpress.com/etf-performance/
Though I was tempted to I did not buy any <b>SRS</b> yesterday. My stop for <b>DTO</b> is 6.6% below, so that I do not miss any upside. I might sell <b> SLV</b>, I feel it is loosing its mojo. Next on the list: <b>DGP</b>
<h3>Day of Stop Losses</h3> Today is another historic day in the making. I can't stress enough the importance of a stop loss. Today is the perfect example. Four of my five stop losses kicked in today. YES! I did leave some money on the table. But I think I have dogged a huge downside and locked in decent profits. Amounts where my stop losses kicked in today. <ul> <li><strong>DTO 234.02</strong></li> <li><strong>SCO 53.68</strong></li> <li><strong>SLV 13.82</strong></li> <li><strong>DEE 95.76</strong></li> </ul> My portfolio seems to good to be true. But it is real and simple, check the history I have been making posts before time. <span style="font-family:Bookman Old Style;"> Here is the live <a href="http://investics.wordpress.com/etf-performance/">portfolio.</a></span> <span style="font-family:Bookman Old Style;"> You can find all historic posts <a href="http://investics.wordpress.com/category/etf-ranking/"> here.</a></span>