I got nothing but time baby. It’ll get back up…..evetually. Right?!??
the markets can stay irrational longer than you can remain solvent my friend
I doubt that he has enough money in a single ETF such that a decline will render him insolvent.
“America fares quite well when it comes to gender equality […] relative to the rest of the world.” -zidhai
I bought XXV on the same principle in August but it is taking longer than expected.
You want a quote? Haven’t I written enough already???
lol…If a $300 play on UPRO makes me insolvent I got bigger fish to fry.
It’s just a saying, and I think it’s a terrible idea. Ultra ETFs in general, and your timing in particular, S&P will hit sub 1000, then buy.
You shouldn’t buy any ultra (2x or 3x) if you are unsure of the direct right now.
even in 1x you lose money when the market dips and regains.
$10 lose 50% becomes $5 then regains 50%, it’s only $7.50. Ultra just magnifies that even more.
who said anything about being unsure? high risk= high reward
Yeah, baby, yeah!! The best way to get a high return is to take really big risks! :-)
> who said anything about being unsure? high risk=
> high reward
the 4 words I live by
Hope. It is the quintessential human delusion, simultaneously the source of your greatest strength, and greatest weakness.
Well, you did good today!
^ Was just going to say that. 6% just today. Many people will be very happy if they make that for the year.
I find your ideas interesting and would like to subscribe to your newsletter…
$300 * 6% = A steak dinner at Ruth Chris’
Maybe you should have put a little bit more on the table.
Being Born Wealthy > Being Jewish or WASPY > Born Pretty > Top 5 MBA > CFA > Avg MBA > Born middle class > Born lower class > Born in crack house > Working in IT but looking to switch to buyside
> $300 * 6% = A steak dinner at Ruth Chris’
Yes, someday I hope to eat at Ruth Chris’ every night.
As a nation of free men we will live forever or die by suicide.
Sounds like the only way to make money in this market is to be irrational, or is it fearless?
BTW, UPRO takes you 3x long, not just double.
> $300 * 6% = A steak dinner at Ruth Chris’
> Maybe you should have put a little bit more on the
I haven’t been to Ruth Chris’ in a while… but aren’t their steaks a bit more than $18?
$18, that’s an appetizer there.
Ribeye = $41
NY Strip = $43
Tbone = $48
I’m pretty sure UPRO is 3x. I’d be buying SPXU (triple short S&P) if I had to pick between the two.
Oct. 5 (Bloomberg) – U.S. stocks rallied, giving the Standard & Poor’s 500 Index its biggest two-day gain in more than a month, as economic data topped estimates and investors speculated Europe will act to contain the region’s debt crisis.
off to a good start. it isnt too late to hop on this train.
It was a good call - do you have a target, timeframe, etc?
higher risk does not equal higher reward….not all the time. the most successful investors do not take the most risk (i.e. buffet).
2-12 months or longer if necessary. Target 1300.
I’d have a stop in place.
Lol SkipE99 it’s funny how so many people are worried about your $300.
Lots of bears in here.
Look at the returns on Leveraged ETFs like FAS and FAZ. They don’t correlate over long periods of time. Look at FAZ vs FAS for 3 months/ 6 months …etc. Couldn’t you just SHORT both ETFs?????
> Look at the returns on Leveraged ETFs like FAS and
> FAZ. They don’t correlate over long periods of
> time. Look at FAZ vs FAS for 3 months/ 6 months
> …etc. Couldn’t you just SHORT both ETFs?????
Yes, I’ve done it a few times in the past. The two biggest problems are if you face a slow, steady rise in the price of the underlying; or, what happened to me every time I did it, the shares get called away from you by your broker forcing you to cover. It’s good in theory, but hard in practice.
Looks like another good day for you today.
> 2-12 months or longer if necessary. Target 1300.
Seeing that you have done so well, I would take the profits at this point. These are day trading vehicles. The daily rebalancing makes them not so good for longer term investing.
Please read: http://www.investopedia.com/articles/exchangetradedfunds/07/leveraged-et...
Cant deny I called that bottom within a couple hours of it happening. Admittedly luck, but up 28% since first post. If it were not for a 2 month holding requirement on my positions I would sell today and take my $83 ($63 net of tax) and take the wife out to Applebees for some of that high life living!