My Stock Value Strategy Starts Now (1 Viewer)

[General Malaise]

I've been talking about SLV for over a week here and it's been my best play since I jumped back in in late Jan. I'm going to add some silver today in the form of AGQ - Ultra Silver ProShares. Working out of some of this oil to do it.

DOG working well for me, as is CEF, GLD and SLV.

 

[David Dodds]

UCO down to 9.10. amazing

 

[General Malaise]

I'm confused by the oil free fall. I had an order to sell 5K DXO at 9.70. Thinking of going market on it and dumping all the UCO as well.

 

[Keerock]

UCO down to 9.10. amazing

Based on the action the last two days, I'm tempted to buy more. But, I'm too unsure of this market to pull the trigger.

 

[St. Louis Bob]

OK gents, Oil is now a buy again. I like UCO at 9.66 a lot

You can buy mine at 9.50.

9.45I'll be underwater this in 15 cents.

I just got 500 at $9.48.

Out this morning at $10.03 +$275.00Sold my 2500 DXO too at $2.81 +$975.00

I put an order in for 3500 DXO at $2.42.

 

[Keerock]

Wish I had bought DOG this morning when I thought of it

 

[Keerock]

OK... in 1K more UCO @9.17

 

[David Dodds]

UCO down to 9.10. amazing

Based on the action the last two days, I'm tempted to buy more. But, I'm too unsure of this market to pull the trigger.

We all know one thing. Oil won't stay below $40/barrel for ever here. The second it looks like Iran will go to war against someone, oil will be $50+. This is easy money in my opinion. How bad can the inventory report be tomorrow?

 

[Mark Davis]

In for put options on UCO with a February strike of $9/share with a $.65 premium collected. Break even on this by next Friday for me is $8.35.

 

[General Malaise]

is it my imagination, or did oil go from down 60 cents to down 40 cents in an eyeblink?

 

[General Malaise]

UCO down to 9.10. amazing

Based on the action the last two days, I'm tempted to buy more. But, I'm too unsure of this market to pull the trigger.

We all know one thing. Oil won't stay below $40/barrel for ever here. The second it looks like Iran will go to war against someone, oil will be $50+. This is easy money in my opinion. How bad can the inventory report be tomorrow?

CNBC touting an opec surplus with lower US demand....course, Oil rallying on that.

 

[Keerock]

UCO down to 9.10. amazing

Based on the action the last two days, I'm tempted to buy more. But, I'm too unsure of this market to pull the trigger.

We all know one thing. Oil won't stay below $40/barrel for ever here. The second it looks like Iran will go to war against someone, oil will be $50+. This is easy money in my opinion. How bad can the inventory report be tomorrow?

CNBC touting an opec surplus with lower US demand....course, Oil rallying on that.

GB CNBC sheep...

 

[Keerock]

UCO down to 9.10. amazing

Based on the action the last two days, I'm tempted to buy more. But, I'm too unsure of this market to pull the trigger.

We all know one thing. Oil won't stay below $40/barrel for ever here. The second it looks like Iran will go to war against someone, oil will be $50+. This is easy money in my opinion. How bad can the inventory report be tomorrow?

when tomorrow is the report?

 

[David Dodds]

UCO down to 9.10. amazing

Based on the action the last two days, I'm tempted to buy more. But, I'm too unsure of this market to pull the trigger.

We all know one thing. Oil won't stay below $40/barrel for ever here. The second it looks like Iran will go to war against someone, oil will be $50+. This is easy money in my opinion. How bad can the inventory report be tomorrow?

when tomorrow is the report?

10:30 am ET. I suspect it will be just like it is every week (rising inventories), but it generally gets forgotten 1/2 hour later...lol.

 

[David Dodds]

short term oil is $38.84 right now.....that is LOW

 

[Keerock]

Damn... I need to get L2 again. Can anyone recommend who's good these days?

 

[David Dodds]

although I fully expect to do ok with the shipping stocks, this is exactly the reason I hate holding positions over night. There were numerous day-trading opportunities in oil stuff today. I did sell once, but because I was in deep with shipping stuff, I did not buy UCO as hard as was obvious at 9.10 etc. I still think I might be able to get one more sell in by the day's end

 

[David Dodds]

Financials are now bleeding beyond reasonable levels too

 

[Keerock]

A good day trader would have made a killing on UCO between 9.10 and 9.25 all morning.

 

[The Sniper]

I concur with everyone else's comments on this looking like a big negative day. Just stuck my head out and bought some SDS (2x short S&P). This sucker is like crack cocaine.

Picked the absolute wrong time to buy SDS. Closed the position by selling into today's bounce. 8-day loss of about 6.5%. Glad it was a small position.

 

[Keerock]

A good day trader would have made a killing on UCO between 9.10 and 9.25 all morning.

Let's see how good I am:Fictitious UCO buy @9.10 (2:00 pm)

 

[Keerock]

A good day trader would have made a killing on UCO between 9.10 and 9.25 all morning.

Let's see how good I am:Fictitious UCO buy @9.10 (2:00 pm)

IMMEDIATELY dropped to a 52-week low of 9.01... let's hope it sees support here...

 

[Sand]

Financials are now bleeding beyond reasonable levels too

They went negative?

 

[The Z Machine]

OIL at 18.00 right now. 52-week low. I'm down 7% here from where I bought it.

It'll be at 20.00 before March IMO.

 

[Battles]

A good day trader would have made a killing on UCO between 9.10 and 9.25 all morning.

Let's see how good I am:Fictitious UCO buy @9.10 (2:00 pm)

IMMEDIATELY dropped to a 52-week low of 9.01... let's hope it sees support here...

Support gone.

 

[Keerock]

A good day trader would have made a killing on UCO between 9.10 and 9.25 all morning.

Let's see how good I am:Fictitious UCO buy @9.10 (2:00 pm)

IMMEDIATELY dropped to a 52-week low of 9.01... let's hope it sees support here...

Support gone.

Fictitious stop loss hit at 8.99

 

[Battles]

Everyone decided they don't need oil anymore. It will be as cheap as water by the end of the day.

 

[Keerock]

Everyone decided they don't need oil anymore. It will be as cheap as water by the end of the day.

Water is about $6 per gallon at the local 7-11

 

[David Dodds]

Everyone decided they don't need oil anymore. It will be as cheap as water by the end of the day.

Water is about $6 per gallon at the local 7-11

exactly. I just put another buy order in.

 

[Keerock]

Everyone decided they don't need oil anymore. It will be as cheap as water by the end of the day.

Water is about $6 per gallon at the local 7-11

exactly. I just put another buy order in.

For what... oil, water or 7-11?

 

[David Dodds]

OK I am starting to get pretty deep in here. Bought 4,000 shares of UCO at $8.62. Come on rally monkey

 

[General Malaise]

Ooooof. I'm holding way too much DXO right now.

This smells like a big shake out to me. I'm going to hold on and watch because I like pain and misery.

 

[Keerock]

Remind me again... DXO is March contracts and UCO is June/July?

 

[General Malaise]

lol at my sell order at 2.70....

 

[Cromedog]

Keerock Posted Today, 02:35 PM

Remind me again... DXO is March contracts and UCO is June/July

Other way around.

 

[Jene Bramel]

Remind me again... DXO is March contracts and UCO is June/July?

Reverse that.

 

[David Dodds]

Remind me again... DXO is March contracts and UCO is June/July?

DXO is the July contract. UCO is the current March contractMarch Price

July Price

 

[BR33ZE]

Remind me again... DXO is March contracts and UCO is June/July?

360 degree that

 

[adonis]

You guys holding up ok? It looks brutal in the markets today.

 

[David Dodds]

My UCO average price is now $8.86 for my 6,000 shares. I am officially IN the oil game today.

 

[Cromedog]

What happens to the March contract in April? Does it expire like an option, or what?

 

[David Dodds]

You guys holding up ok? It looks brutal in the markets today.

I have had the cyanide pill in my mouth three times, but all is OK this second as I bet a few more dollars on the oil rally

 

[General Malaise]

You guys holding up ok? It looks brutal in the markets today.

I've got six positions...DOGCEFSLVGLDDXOUCO4 out of the 6 are well into the green, but I'm way overweight oil and didn't get out when I should have. Was a penny or two away from sell limits on DXO, but never executed. Regretting that now as I'm getting beat down, but I'm wondering if oil is shaking out the weak today.

 

[Mark Davis]

A lot of this is my fault for not trading out of UCO at $10.15 and taken my slap on the wrist from Scottrade over the "free ride" issue. Ridden UCO all the way down now. Longer term it should still be fine.

 

[David Dodds]

What happens to the March contract in April? Does it expire like an option, or what?

No they just roll it into April contracts (I think they are doing some of that now with UCO) - I believe they roll 20% a day for multiple days.

 

[Keerock]

I feel a small market bounce then big selloff at the close...

 

[Keerock]

My UCO average price is now $8.86 for my 6,000 shares. I am officially IN the oil game today.

My UCO average is 9.25 for 6K shares...

 

[David Dodds]

here is a better LIVE chart on the price of crude (now at $37 and change)

http://www.livecharts.co.uk/MarketCharts/crude.php

 

[siffoin]

I feel a small market bounce then big selloff at the close...

Get yer popcorn ready!

 

[Cromedog]

Remind me again... DXO is March contracts and UCO is June/July?

What happens to the March contract in April? Does it expire like an option, or what?

No they just roll it into April contracts (I think they are doing some of that now with UCO) - I believe they roll 20% a day for multiple days.

Thanks... I've got 3,000 at 9.23