In on UPRO today...double long SP 500 ETF

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

http://www.investopedia.com/articles/exchangetradedfunds/07/leveraged-etf.asp#axzz1ZpDqiUPy FYI

I doubt that he has enough money in a single ETF such that a decline will render him insolvent.

I bought XXV on the same principle in August but it is taking longer than expected.

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! :slight_smile:

SkipE99 Wrote: ------------------------------------------------------- > who said anything about being unsure? high risk= > high reward the 4 words I live by

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.

Zesty Wrote: ------------------------------------------------------- > $300 * 6% = A steak dinner at Ruth Chris’ Yes, someday I hope to eat at Ruth Chris’ every night.

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.

Zesty Wrote: ------------------------------------------------------- > $300 * 6% = A steak dinner at Ruth Chris’ > > Maybe you should have put a little bit more on the > table. 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. In DC… 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.