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How did you find a borrow on this?Mose said:I have under $4500 invested, if I get $500-$1000 in a few hours I will be jumping for joy. If it goes up to 25 cents, I'm out. with my $600 loss.Mark Davis said:How much are you trying to make? Risk/reward seems out of whack on that trade to me.Mose said:? please elaborate.FavreCo said:Mose said:
How did you find a borrow on this?Mose said:I have under $4500 invested, if I get $500-$1000 in a few hours I will be jumping for joy. If it goes up to 25 cents, I'm out. with my $600 loss.Mark Davis said:How much are you trying to make? Risk/reward seems out of whack on that trade to me.Mose said:? please elaborate.FavreCo said:Mose said:
Hard to believe, but I just asked for 50K from Goldmand and it's out there. I'll be damned.I'm out of DXO completely. Sold 5K at 2.00. I took a pretty big hit on this one. Glad I sold half at 2.54 last week, but by and large, this position worked against everything else I have going for me. Hanging on to UCO at the moment.How did you find a borrow on this?Mose said:I have under $4500 invested, if I get $500-$1000 in a few hours I will be jumping for joy. If it goes up to 25 cents, I'm out. with my $600 loss.Mark Davis said:How much are you trying to make? Risk/reward seems out of whack on that trade to me.Mose said:? please elaborate.FavreCo said:Mose said:
Why? You don't have the time to wait this one out?Hard to believe, but I just asked for 50K from Goldmand and it's out there. I'll be damned.I'm out of DXO completely. Sold 5K at 2.00. I took a pretty big hit on this one. Glad I sold half at 2.54 last week, but by and large, this position worked against everything else I have going for me. Hanging on to UCO at the moment.How did you find a borrow on this?Mose said:I have under $4500 invested, if I get $500-$1000 in a few hours I will be jumping for joy. If it goes up to 25 cents, I'm out. with my $600 loss.Mark Davis said:How much are you trying to make? Risk/reward seems out of whack on that trade to me.Mose said:? please elaborate.FavreCo said:Mose said:
Bought more AGQ, DOG, CEF this morning and added a new position - DXD, another short agains the Dow. Watching 7552 level like a hawk.
I bought it with the mindset that oil was poised to head higher, but it's fallen apart and I don't know enough about the futures contracts or the cantango or OPEC or anything else for that matter to stay married to this loser. I'd rather feed my winners than hope for a turn around in my biggest loser YTD.Why? You don't have the time to wait this one out?Hard to believe, but I just asked for 50K from Goldmand and it's out there. I'll be damned.I'm out of DXO completely. Sold 5K at 2.00. I took a pretty big hit on this one. Glad I sold half at 2.54 last week, but by and large, this position worked against everything else I have going for me. Hanging on to UCO at the moment.How did you find a borrow on this?Mose said:I have under $4500 invested, if I get $500-$1000 in a few hours I will be jumping for joy. If it goes up to 25 cents, I'm out. with my $600 loss.Mark Davis said:How much are you trying to make? Risk/reward seems out of whack on that trade to me.Mose said:? please elaborate.FavreCo said:Mose said:
Bought more AGQ, DOG, CEF this morning and added a new position - DXD, another short agains the Dow. Watching 7552 level like a hawk.
I can't imagine why in hell my reading a thread would bother you. Now go away, little troll.please no.krista4 said:Belated
Dang.I'm waiting this one out. Russia isn't going to let these prices stay this low forever.I bought it with the mindset that oil was poised to head higher, but it's fallen apart and I don't know enough about the futures contracts or the cantango or OPEC or anything else for that matter to stay married to this loser. I'd rather feed my winners than hope for a turn around in my biggest loser YTD.Why? You don't have the time to wait this one out?Hard to believe, but I just asked for 50K from Goldmand and it's out there. I'll be damned.I'm out of DXO completely. Sold 5K at 2.00. I took a pretty big hit on this one. Glad I sold half at 2.54 last week, but by and large, this position worked against everything else I have going for me. Hanging on to UCO at the moment.How did you find a borrow on this?Mose said:I have under $4500 invested, if I get $500-$1000 in a few hours I will be jumping for joy. If it goes up to 25 cents, I'm out. with my $600 loss.Mark Davis said:How much are you trying to make? Risk/reward seems out of whack on that trade to me.Mose said:? please elaborate.FavreCo said:Mose said:
Bought more AGQ, DOG, CEF this morning and added a new position - DXD, another short agains the Dow. Watching 7552 level like a hawk.
Not sure if anyone took a look at SFEG. It's now trading at $1.24. Here is additional information. http://www.beaconrockresearch.com/files/SF...te.09.02.13.pdf
I'm in a little DBO now at an average cost of $18, or will be when options expire. This is a long term holding for me in my IRA. I feel pretty comfortable at these levels. I don't own a lot of it so if it keeps going lower I'll add a bit more.
I need a bunch more than a bit...
Anyone got the Kahunas to buy in at these levels? I pulled half my original UCO position at 7.87 and am really considering putting it back in here.
Me too... plus now the bidding is no longer up
I took a small position in DXO yesterday at $1.95
Just an FYI since I know so many people just love to jump into trades (and usually (though not always) they do so by going long). Sometimes it is truly better to sit on the sidelines with some cash. I know a lot of guys here love getting in on things. But please consider the comments I made above (only one week ago) and see what's happened overall to the market since.The Dow went from approximately 8150 at the time of the above posts to 7520 now. (Down 7.5%.)Gold (GLD) went from approximately 89.50 to 94.95 now. (Up 6%.)
Just put in a buy order for 10,000 units of UCO at .25 cents. Hoping I pick up your lucky shares.Put a sell order on my UCO at .25 cents. Should get there friday at this rate.
BR33ZE said:Just put in a buy order for 10,000 units of UCO at .25 cents. Hoping I pick up your lucky shares.General Malaise said:Put a sell order on my UCO at .25 cents. Should get there friday at this rate.
I'm green on the day. Gold and Silver are the place to be and shorting the Dow is about to work too.
I'm trying to sell the Mrs on giving me the ol' stimulus package...
Down $31,200.
I gave my cousin (yes, I have A LOT of cousins) 10k to invest in physical gold & silver this summer. I know he bought me a 1000 gram bar of silver for just under 6k, I haven't gotten around to find out what he did with the rest of it.So I always hope you make a fortune but now even more so.It looks like I'm going to be just about all in on DXO tomorrow, FML.
Can I have DNA testing done to see if I'm a cousin of yours?
Good luck on DXO. I don't have the stomach to touch that one anymore. I'm holding 500 UCO and will probably just hold on to it since it's down nearly 50% since I bought it, but I got all out of the DXO. FML too.
We need it that's for sure. Hope it holds up!
This is HUGE news people. Just a few weeks ago the inventory increased 9+ million barrels in a week. OPEC will cut production again at their March meeting. There is still some pressure on the front month oil (March) due to capacity issues at Cushing. Friday is when deliveries are set. I can easily see China and possibly investors gobbling up this inventory though as I think this inventory report + OPEC figured cut is going to drive prices North. I think the next few weeks could be great ones for oil stocks. UCO has also rolled into the May contract so the front month means very little these days. But I still expect the biggest part of this rally to take place early next week before the next inventory report. Despite being extremely upside down here on this stuff I remain optimistic that oil is due for a nice recovery soon.
I sure wish that I had set some stops...
Thanks GB. I added another 1100 DXO this morning at $1.85.General Malaise said:
Good luck. I'm getting kilt today.
I wrote put options on GE that expire in February. Basically I committed to buying GE for $10/share on February's options expiration, which is the end of trading tomorrow. Obviously if the price was over $10 then the option wouldn't execute. If it's under $10 then I buy 100 shares per contract I wrote at $10. For that promise I made earlier, I was paid about $.65/share. So if it executes, my cost is around $9.35 ($10 purchase price - $.65 collected on each share by writing the put option).I'm saying at that price I like owning some GE. To further reduce cost I can then write" covered" call contracts for say a strike of $10 or $11/share. By covered I mean if I own 500 shares I can write 5 call contracts, which are promises to sell at a certain price. I'll get paid a premium for that as well. If GE rises above the strike price then I have a tidy 10-20% gain in a couple of months. If it doesn't, again my cost is below $9/share and I rinse and repeat to reduce costs even further.
I've never felt dumber... thank you...I wrote put options on GE that expire in February. Basically I committed to buying GE for $10/share on February's options expiration, which is the end of trading tomorrow. Obviously if the price was over $10 then the option wouldn't execute. If it's under $10 then I buy 100 shares per contract I wrote at $10. For that promise I made earlier, I was paid about $.65/share. So if it executes, my cost is around $9.35 ($10 purchase price - $.65 collected on each share by writing the put option).I'm saying at that price I like owning some GE. To further reduce cost I can then write" covered" call contracts for say a strike of $10 or $11/share. By covered I mean if I own 500 shares I can write 5 call contracts, which are promises to sell at a certain price. I'll get paid a premium for that as well. If GE rises above the strike price then I have a tidy 10-20% gain in a couple of months. If it doesn't, again my cost is below $9/share and I rinse and repeat to reduce costs even further.
Lowest intraday level since March 2003.
Transports beat them to it a few weeks ago, IIRC.
