Tuesday, October 19, 2010

SOLD ZSL $17.90 BOUGHT FAZ $13.11 DTO $65.93 SFMI $0.125

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I have been extremely pressed for time of late to get everything done I'd like to get done.  I made three trades yesterday and am just now getting around to posting them.
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With no regret, but unfortunately, I sold my ZSL position before it would have made some nice money.  I say no regret because I absolutely understand I will never be able to be 100% accurate.  I say unfortunately because I was in the right place at the right time and just did not stay there long enough.
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This is Proshares Ultrashort Silver (ZSL) which I sold for a minuscule profit at $17.90.
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Great setup and I let the big fish get away.  Doesn't happen often, so I'll sure to tell my Grandkids (when I have any, that is).  ZSL close today somewhere around $19.
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This is yesterday's purchase of Direxion Financial Bear 3X Shares (FAZ) at $13.11.  I was about a day early on this purchase but it's going to work out just fine.
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This is yesterday's purchase of Proshares DB Crude Oil Short ETN (DTO) at $65.93.  Again, I was about a day early on buying this, but who cares?  It's going to work out great, just the same.




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This is the only trade I made today - a purchase of Silver Falcoln Mining (SFMI) at $0.125.  I know this stock well and usually when it trades below the lower Bollinger Band it will pop back up.  May happen this time.  May not happen this time.  It does seem to be at longer term support so I cannot imagine it is going much lower, if at all.  
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My TSI Trading record has been updated.

4 comments:

  1. Hi John,

    I know how you feel on FAZ. I also bought a day early too! But I still beat you by buying it < $13. :-)

    Do you have a target price in mind?

    Cheers,
    Fung

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  2. Hey Fung - no particular price target. Could reach $16 I suppose if the news that comes out over the next few days is depressing on the mortgage situation. I intend to hold this for about a week.

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  3. Was it a trap today? Quite an impressive rally!

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  4. holding on. I sure hope all of this is a good idea. feels bad when looking at the screen.

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