David Dodds
Administrator
Bought 2000 more UYG at 3.48... Done for today as the market's imploding....negative in most of these except USO, but I think they will all rebound in the aftermarket
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My Stock Value Strategy Starts Now (3 Viewers)
- Thread starter David Dodds
- Start date
The Sniper
Footballguy
Got into GLD at $88.97. I really like this one's prospects for Friday, and even longer term really.
Mark Davis
Footballguy
I wrote 2 additional puts for GLD today, one for February and one for April. Trying to average down an entry point. So far I've not had any contracts executed and been pocketing the cash from the premiums. That's great for now, hoping one or two eventually execute though as I too like this long term.
cosjobs
Footballguy
Wow, that's worth about six Colin marriages.
Random
Footballguy
Don't be too disappointed if today's run doesn't hold tomorrow. But longer term, I think you'll be extremely happy when gold hits 2K+ and GLD hits $200+. Give it time.eta: Congrats, and welcome to the dark side
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After the Rain
Footballguy
Congrats on the GLD picks. Personally, I think gold might be putting in a short term top here but I could be wrong.
Mark Davis
Footballguy
I actually hope you're right. As long as it ends up in the same place there is more profit to be made by it hovering in the low 80's to 90 than by escalating now.
David Dodds
Administrator
Sold 2,000 EXM at $7.13 (Profit = $340)
Sold 500 USO at 29.98 (Profit = $430)
Sold 500 USO at 29.98 (Profit = $430)
Random
Footballguy
I sold a portion (1/3) of my GLD yesterday to lock in some profit (+13% in 1 month). Looking for some retracement to reenter. 920 gold is a pivotal number. It either goes up to 960 from here or down to 880.
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General Malaise
Footballguy
Anyone else buying SLV?
NYG Endzone
Footballguy
What so how much are you up/down with this strategy?
Random
Footballguy
I've been looking at it, but decided its upside = GLD, but downside looks much worse.
Mark Davis
Footballguy
I hear you. Not bad at all for a month. If I recall correctly you are averaged in around $77/sh? I've been trying to build an entry point for me that works out to be low 70's so I'm hoping for the 880 side rather than 960. I wrote an April put yesterday for $77 and got paid $1.70 to do it. Seemed like a no lose proposition for someone wanting GLD. I'm hating though that my SEP IRA can only trade on the dollars if you had to buy every share you have an option on. So when I write a GLD option at say $81 I have to have $8,100 in my account to do so. My regular account is much more flexible. If I had a multitude of options on one thing that were going to strike I would cover them before hand anyway.
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David Dodds
Administrator
Bought 1,000 EXM at $6.74
David Dodds
Administrator
Bought 2,000 more UYG at $3.32
General Malaise
Footballguy
I'm riding both, as well as CEF.
David Dodds
Administrator
Sold 1,000 DELL at $9.73 (I expected to see a bigger bounce in pre-market. and with the Nasdaq squeezing lower, I decided to dump this at a loss). Lost $280
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Does anyone know of a leveraged gold/precious metals ETF?
I love this trade...you might need to be a little patient with it though.
General Malaise
Footballguy
Sure. Check out DGP. It's double gold. I'm sure there are more.Here's some others you could check out
BP (PowerShares Precious Metals Fund)DGL (Gold Fund)DBS (Silver)DBB (Base Metals)Lot's of bearish ones out there too.....
Mr. Pickles
Footballguy
I've been asking for this info for years now.
General Malaise
Footballguy
Did you ever ask me? These ETFs are nuts. A new one pops up every day. Hard to keep track of them all.I've been asking for this info for years now.
I'm in one right now that's double long crude and trading at 2.75ish...it debuted on the market at 25 or so in the summer, hit 29 as oil hit all time highs, then fell apart. If you think oil rebounds this year, DXO will EXPLODE!!!11.
Now if only they would open up an ETF for minor metals...
Mr. Pickles
Footballguy
Oh Christ...MINOR METALS shtick ring a bell? Get me into ruthenium, GM. DO IT.Did you ever ask me?I've been asking for this info for years now.
General Malaise
Footballguy
Wait, that was you at Mellyhole? We're actually looking for a new analyst...Oh Christ...MINOR METALS shtick ring a bell? Get me into ruthenium, GM. DO IT.Did you ever ask me?I've been asking for this info for years now.
That's funny....my brother was asking me a few weeks back if I ever heard of rhodium. I gave him aOh Christ...MINOR METALS shtick ring a bell? Get me into ruthenium, GM. DO IT.Did you ever ask me?I've been asking for this info for years now.
. Appartently, it's rarer than gold, silver, and platinum and is a lot cheaper nowadays than it was a few years back.Anyway, back to Mr. Dodds....
General Malaise
Footballguy
You see who's been an interested buyer in ruthenium of late?Oh Christ...MINOR METALS shtick ring a bell? Get me into ruthenium, GM. DO IT.Did you ever ask me?I've been asking for this info for years now.
St. Louis Bob
Footballguy
I hope soI'm now looking to add another 4000 shares.Did you ever ask me? These ETFs are nuts. A new one pops up every day. Hard to keep track of them all.I've been asking for this info for years now.
I'm in one right now that's double long crude and trading at 2.75ish...it debuted on the market at 25 or so in the summer, hit 29 as oil hit all time highs, then fell apart. If you think oil rebounds this year, DXO will EXPLODE!!!11.
Now if only they would open up an ETF for minor metals...
Mr. Pickles
Footballguy
Ted messed you up good.Wait, that was you at Mellyhole? We're actually looking for a new analyst...Oh Christ...MINOR METALS shtick ring a bell? Get me into ruthenium, GM. DO IT.Did you ever ask me?I've been asking for this info for years now.
I'm a big fan of all lanthanides.
General Malaise
Footballguy
Right there with ya, only my entry point not nearly as good as yours. Well done.I hope soI'm now looking to add another 4000 shares.Did you ever ask me? These ETFs are nuts. A new one pops up every day. Hard to keep track of them all.I've been asking for this info for years now.
I'm in one right now that's double long crude and trading at 2.75ish...it debuted on the market at 25 or so in the summer, hit 29 as oil hit all time highs, then fell apart. If you think oil rebounds this year, DXO will EXPLODE!!!11.
Now if only they would open up an ETF for minor metals...
The Z Machine
Footballguy
Finally put my first orders in today.
Mostly in Oil ETFs and major oil companies. I plan to go long on them as I'm not a day trader.
Mostly in Oil ETFs and major oil companies. I plan to go long on them as I'm not a day trader.
General Malaise
Footballguy
You buy some DXO?
SkyRattlers
Anti-aliai
I just refinanced my mortgage and pulled $24000 out of my house with the intention of putting $2000/month over the next 12 months into the market. Since I'm looking long term I've been advised that Indexes are a solid safe bet.
Does anyone have any opinions on the iShares indexes? The one in particular that interests me is iShares Dow Jones US Financial (ETF).
Does anyone have any opinions on the iShares indexes? The one in particular that interests me is iShares Dow Jones US Financial (ETF).
General Malaise
Footballguy
Yeah, I don't see anything that could possibly go wrong with this plan.....
The Sniper
Footballguy
Seriously, my suggestion would be to put back the $24k and pay down your mortgage. Over the next 2 years, people should mostly focus on improving their personal balance sheets. I think it's going to be a trading market, with some opportunities to make money buying on the dips and selling on the bounces. But I see that activity occurring within a pretty level range. The money that I'm trading with is peanuts relatively speaking. I really just enjoy the process and learning more about investments through first hand experience. Good luck whicever way you go!
David Dodds
Administrator
Bought 3,000 UYG at $3.25....I knew I should have sold this when I was even at 3.46 today too and was squeezing for a few more dollars.
The Z Machine
Footballguy
yes.I put in a bid at $2.70. Let's hope it hits (for my sake).
The Sniper
Footballguy
Anyone happen to be short Moody's (MCO) or Wells Fargo (WFC)? Two ideas that I'm mulling over.
David Dodds
Administrator
Bought 5,000 DXO at 2.66
General Malaise
Footballguy
SkyRattlers
Anti-aliai
I have no concerns over my balance sheet. Even without doing this my wife and I are in excellent shape both now and in the future.I'm simply making the most of the opportunity that this economy is presenting. I've already spoken with 3-4 different financial "experts" that I know personally and they all agree that this is a very good move for me at this time. And atleast two of those people are notoriously conservative investors. So I feel I've covered my bases in that regard. I'm now looking for FBG's opinions on these iShares indexes. They were recommended to me by my broker but he only showed me the ones that trade on the TSX. But since the American economy has taken a bigger hit than the Canadian economy I'd rather try to get the most bang for my buck and invest in one of the Dow Jones iShares indexes. The FBGs represent my best access to American minds for investing so I'm hoping for a little feedback.
General Malaise
Footballguy
Do you still have a substantial amount of equity build into your house after the 25K tap? Maybe I'm not very well connected, but I think anytime you borrow money to invest it in the stock market you are making a poor decision. Refinancing homes and investing the proceeds into the market is one of the major reasons we're facing a financial catastrophe the likes of which we haven't seen in decades. Furthermore, you are betting on a turnaround in our financial markets, especially the Dow. Are not you in the least bit concerned that the Dow could follow up last year's losses with more losses this year? If it breaks below it's Nov 20th lows of 7552, then what? Worst case scenario for you is that the housing market continues to decline at an accelerating clip, drying up what's left of your equity or, worse, putting you upside down and the stocks you borrowed money to buy turn against you in a hurry and you're out the cash. Don't think it couldn't happen. Be careful.
SkyRattlers
Anti-aliai
I appreciate the advice and for the average person it probably makes very good sense.Factors that are on my side:I live in Canada, which is weathering the storm far better than the StatesMy wife and I work in recession proof jobs (utilities and IT/health care) and we both bring home decent pay.The value of our house is half what we could afford. We simply choose to live in a small home. I'm not investing for the short term. It doesn't matter to me what the economy does over the next year.The iShares Dow Jones US Financial (ETF) is currently trading for around $35. Over the 8 years it's been in existence it's averaged around $80 a share with a high of $120. I'll be very happy with it simply returning to it's average within 3-5 years.I'm just looking for opinions on what the investing experts in this thread think of these iShares indexes in general over the long term.
The Sniper
Footballguy
I think ETF's are fine, but I don't like IYF. I think there are better places to put your money. I think oil, gold, and agricultural commodities will be strong in coming years. Good luck!
General Malaise
Footballguy
I agree with this guy.I'm long Oil, Gold and Silver ETFs and short the Dow ETF.
siffoin
Footballguy
I'd be for what the previous post recommended...but people do what they want. You seem convinced you are safe...whose to argue.iShares are fine. The biggest problem is options are not traded on them. IF you are really looking to invest in this kind of market you need to have a level of flexibility in your portfolio. Options are an financial tool that provide flexibility and options.. So I might look for ETFs that have options. Powershares for example...following the same indexes as IShares...they should pretty much mirror each other.
So to begin the strategy is to write (sell) puts on the ETFs you would like to own. You write them 1 strike out of the money (generally speaking) and you write them at an expiration cycle 1-2 months out. You should be able to capture 7-15% of the underlyings purchase price, and you will be in a time window where the premium burn of the option is working in your favor. The goal here is #1: let the option expire and collect 7-15% over 4-8 weeks time on an ETF you like. For you the worst case is that the underlying closes at a price BELOW the strike you've written. In that case you now own the ETF that 4-8 weeks ago you wanted to buy anyways, and you own it at a price that is significantly less than it was 4-8 weeks ago. If the put expires...you write another 4-8 weeks out. If you never get the stock put to you...and you do this 6x per year you should make around 40%-65% return on an investment you never own..
Once you own the position...you have another "option" of maximizing your gains. #1 realize this is a bear market. So since you own...you then write a call on the underlying owned. You write that call 1-2 strikes out of the money and in an expiration cycle 1-2 months out...again trying to collect 7-15% on the covered call position. If the ETF moves up...so what...you will have made $ on the up move as well as by writing the call.
ETFs are great cause they are hard to fall in love with, so you are looking for pure % profit...and you don't care how you get it.
Using options systematically, and practically and conservatively, you'll be able to maximize gains, and minimize losses. You can get your costs basis down pretty quick too...with the goal of owning at $0.00 costs basis.
Your broker will have no idea how to do this. If he can't or wont fire him. Brokers in general do just that...make people broke(er).
There are inherent risks investing in any market. You should know and understand what you are investing in. Long term buy and hold is only one possible strategy. It offers no guarantees of success. Optionss also have risks associated with them. And before you put $.01 at work you should have a full understanding of ALL of the potential risks.
My feeling is that we haven't yet seen the bottom, so you have some time to catch the bottom yet.
The Z Machine
Footballguy
Here are the details of my first plays:
BP 1 $42.50 $42.53
CVX 6 $71.20 $70.35
DXO 110 $2.70 $2.67
OIL 78 $19.30 $19.46
PTR 6 $74.50 $73.59
REP 2 $17.90 $17.76
I didn't get my 22 shares of DBB @ $11.05 executed today. That means I'll have $245.10 left of the $3000 that I put in to start. I think I'll periodically update this topic, but it'll be nothing like Dodds is doing.
BP 1 $42.50 $42.53
CVX 6 $71.20 $70.35
DXO 110 $2.70 $2.67
OIL 78 $19.30 $19.46
PTR 6 $74.50 $73.59
REP 2 $17.90 $17.76
I didn't get my 22 shares of DBB @ $11.05 executed today. That means I'll have $245.10 left of the $3000 that I put in to start. I think I'll periodically update this topic, but it'll be nothing like Dodds is doing.
bigfishboy
Footballguy
Did you finally get going with Zecco.com? I know you were having issues. How long would signing up take if they didn't have issues with reading your ID picture?
The Z Machine
Footballguy
Yeah. Zecco.com for me.Signup shoulda been like 3-5 days, instead for me it was a week or so. The it was another 2-3 days for the bank transfer to go through. Too long for my blood... but I guess I just got used to placing bets with a book, where it's instantaneous.Thankfully, there's no vig here since it's 10 free trades per month.bigfishboy said:
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Lord of Football
Footballguy
EXM is below $6, I think I am going to pull the trigger on this. The best I can tell its getting dragged down by Dryships and the overall market.
