Thank you. Here is the updated chart. I am looking
at this as a longer term play, what I want to see is how strong the
declines get now, if we can stay above 20 when the market makes its
next correction I will be a VERY big buyer of uyg. Basically
I am looking for relative strength in the banks relative to the
overall market. If I see it I will buy big, but if they fall
hard or harder than the rest of the market I will wait for the
upper trendline to break before I buy.
A chart is a chart is a chart, but a personality takes a while
to get to know. That is a beautiful chart, a site to
behold, but the personality of BKX has morphed into a
Communist. Swing trading UYG is like sleeping with a
Nazi, and swinging FAS is like sleeping with Hitler
himself. There's definitely money to be made for sure,
but the risk is ultra-high with large position sizes. I kind
of like unsanes idea of necking on the porch, day trading, instead
of sleeping with them, swing trading. Or else I might need a few
rolaids.
If thinking long term aren't you concerned about the problems
with the leveraged ETFs? I forget which pair it was but last year
both the long and short were down for the year because of the way
the math works. So maybe better to buy XLF or if you feel brave
join what I hear the pros are doing and short SKF as a long term
play (based on your outlook that would reflect your bullish take --
someone posted about pros shorting both sides to game the longer
term trend).
yes bkout I apologize for not specifying what is long term for
me. 1 month initially, but if I time it just right I might
forget about it for 6-8. Yes leveraged etfs are bad to hold longer
term so make sure you do not risk too much of your portfolio. this
is a risky bet there is no doubt about it, so play a size you are
comfortable with. I am currently only 10% in this position so far
and will be posting updates as I continue to buy - or sell for that
matter.
great call on uyg -
the despised financials
Posted by cmaslin on 4th of Mar 2009 at 09:41 am
great call on uyg - thank you!
banks
Posted by cwa82675 on 4th of Mar 2009 at 09:48 am
Thank you. Here is the updated chart. I am looking at this as a longer term play, what I want to see is how strong the declines get now, if we can stay above 20 when the market makes its next correction I will be a VERY big buyer of uyg. Basically I am looking for relative strength in the banks relative to the overall market. If I see it I will buy big, but if they fall hard or harder than the rest of the market I will wait for the upper trendline to break before I buy.
UYG
Posted by andreac on 4th of Mar 2009 at 10:21 am
A chart is a chart is a chart, but a personality takes a while to get to know. That is a beautiful chart, a site to behold, but the personality of BKX has morphed into a Communist. Swing trading UYG is like sleeping with a Nazi, and swinging FAS is like sleeping with Hitler himself. There's definitely money to be made for sure, but the risk is ultra-high with large position sizes. I kind of like unsanes idea of necking on the porch, day trading, instead of sleeping with them, swing trading. Or else I might need a few rolaids.
double agent , start putting UYG
Posted by averageguy on 4th of Mar 2009 at 10:27 am
double agent , start putting UYG on while daytrading SRS
UYG vs XLF
Posted by bkout3 on 4th of Mar 2009 at 10:16 am
If thinking long term aren't you concerned about the problems with the leveraged ETFs? I forget which pair it was but last year both the long and short were down for the year because of the way the math works. So maybe better to buy XLF or if you feel brave join what I hear the pros are doing and short SKF as a long term play (based on your outlook that would reflect your bullish take -- someone posted about pros shorting both sides to game the longer term trend).
yes bkout I apologize for
Posted by cwa82675 on 4th of Mar 2009 at 10:37 am
yes bkout I apologize for not specifying what is long term for me. 1 month initially, but if I time it just right I might forget about it for 6-8. Yes leveraged etfs are bad to hold longer term so make sure you do not risk too much of your portfolio. this is a risky bet there is no doubt about it, so play a size you are comfortable with. I am currently only 10% in this position so far and will be posting updates as I continue to buy - or sell for that matter.
I like the way you
Posted by dallassteve on 4th of Mar 2009 at 10:11 am
I like the way you are thinking about UYG. Please keep us posted as you buy. I am waiting for the next correction(s) before I jump in. Thanks.
thanks, very helpful
Posted by averageguy on 4th of Mar 2009 at 10:05 am
thanks, very helpful