If you can't beat them, join them......just picked up 300 shares of SSO (Ultra s&p)--with resistance being broken, S&P should climb to mid 870's. In at $23.09. Out of all short postions except for FAZ, will ride this POS...nice rising wedge on S&P, reversal is coming but will ride uptrend. SSO up .13 a share in the time it took to type this....
This guy posts 2-3 videos a day with excellent analysis. Here is today's noon report.
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It's not that they can decay...it's that they do decay. They will always decay to zero...over time. The prospectus tells you that as well.Any long term charts on any of these x2 and x3 funds goes to zero.
They aren't meant to buy and hold...at all. It's a short term trade or hedge...for a couple of days...Max. One day is best to avoid the decay factor.
I've tried to warn you guys about this...they will always go to zero. If you don't understand why...you don't understand what you are dealing with.
Setting stops or using charts on these instruments is ridiculous. There are no technicals on the instrument...only on the index it represents...and because of the decay...it only tracks the index daily...over time it doesn't track it at all.
What you are doing is madness. I've seen this before...and it ended terribly for a group of investors that were convinced, like you, that they had found the holy grail.
You will get wiped out doing this.
What you write here amounts to an "I told you so". I really believe you don't mean it in that vein. I really believe that you are trying to warn us here and I appreciate that.
However, when the market goes south again, and it will, then FAZ and SKF and SRS will go up. Take a look at the history of SKF and all the times it held support at 100 and went back up to over 175. It's happened at least 8 times in the last year.
Yes, these ETFs have suffered decay as you said they would. However this is only once vs. 8 times that it has made money. I posted in the "sell" thread several times last fall of how I invested in SKF and made money. I've made more money trading these ETFs than I have lost. I am still ahead. I only started tracking this recently so only my recent gains/losses are shown here.
Sure, FAZ will never go up to 100 again. However, I do believe it will more than double again and I believe it will happen multiple times due to the inherent weakness of the financial sector. Whether it goes down to 6 or 3 or 1 it will more than double after that. If you don't believe me look at FAS. It has more than tripled in the recent upswing. That's what makes these ETFs investible.
With that being said, I value your input here and I hope you continue to post in this thread. I believe you have valuable insights to offer.
Good luck with this trade. I would suggest keeping this on a very short leash. Both my S&P and DJIA charts are showing perfect rising wedges and are trading right at the resistance lines, the resistance/support lines of this wedge are powerful and have not been breached. I am pretty certain that this rally is on life support. Just my take.
It's not my intent to say I told you so...and I've stated my opinion more than once.
I should just shut up...you guys are big boys. Good luck.
I'm glad to ear this OIL. I was thinking about not posting in this thread because I didn't want to be responsible for other people posting like I did only to lose money. But if people can learn from my mistakes and also from my profitable trades then I guess I'll keep posting.
This is why people like MisterMJ are so valuable. He serves to warn people about things I may not take the chance to because I may be too involved in my trades to see the forest for the trees.
I think I'll add some disclaimers the next time I post trades.
I think of the sell, sell, sell thread as a thread to post economic news and to discuss things of that nature. I plan to continue posting that stuff in there.
I think of this thread as to discuss actual investment strategy and actual investment. I believe you mentioned earlier that those kinds of posts were getting lost in the sell, sell, sell thread.
i'm glad you will keep posting quantum , man this shit is alot to learn let me tell ya ! 
do you know of any websites that can explain the market ? all the sell, sell short , buy to cover , and all this shit ? i don't want to sound like a dipshit , but it's just new and want to learn all i can . it's all about all of us making money ! the more we all can help each other out the more we can get ! some of us appreciate all your time work to contribute to this forum ! god bless ! :toast:
do you know of any websites that can explain the market ? all the sell, sell short , buy to cover , and all this shit ? i don't want to sound like a dipshit , but it's just new and want to learn all i can . it's all about all of us making money ! the more we all can help each other out the more we can get ! some of us appreciate all your time work to contribute to this forum ! god bless ! :toast:
