Posted by dallassteve on 5th of Jun 2009 at 10:03 am
Thanks for tracking gold, Matt. You showed the
GDX:GLD daily chart breaking its trendline two days ago on the
update, and I shorted GDX. I was in suspense yesterday, but
today it is playing out nicely. I like shorting GDX to avoid
the decay in the double ETFs. I am interested to hear
anyone's opinion on holding DZZ for more than one day.
Thanks for the reply. I avoid holding double or triple
ETFs overnight after I was burned on FAZ and SDS. Seems like
there are some here who don't mind holding for several days.
Posted by marketguy on 7th of Jun 2009 at 08:31 pm
several days (or even a weeks) is not an issue from what I've
experienced...you just have to make sure you are buying at nearby
support/resistance levels, that you are on the right side of the
current trend and ALWAYS have a stop in place (even if just a
mental stop)...decay is an excuse for not being disciplined to
one's sell discipline (ie no stop in place)....when these suckers
start trending they can move in a hurry so just holding
intraday will leave a ton on the table (which unfortunately
I've done).
Looks likes a gap and
Posted by matt on 5th of Jun 2009 at 09:48 am
Looks likes a gap and crap day for the market so far after the gap up
Also nice down day for gold! I warned about gold stocks early in the week and they continue to be down
short GDX
Posted by dallassteve on 5th of Jun 2009 at 10:03 am
Thanks for tracking gold, Matt. You showed the GDX:GLD daily chart breaking its trendline two days ago on the update, and I shorted GDX. I was in suspense yesterday, but today it is playing out nicely. I like shorting GDX to avoid the decay in the double ETFs. I am interested to hear anyone's opinion on holding DZZ for more than one day.
Holding leveraged ETFs, ETNs etc.
Posted by hornsant on 5th of Jun 2009 at 10:21 am
Holding leveraged ETFs, ETNs etc. is a bad idea. Internal decay is a killer.
Title: holding 2X ETFs Thanks for
Posted by dallassteve on 5th of Jun 2009 at 10:31 am
Thanks for the reply. I avoid holding double or triple ETFs overnight after I was burned on FAZ and SDS. Seems like there are some here who don't mind holding for several days.
several days (or even a
Posted by marketguy on 7th of Jun 2009 at 08:31 pm
several days (or even a weeks) is not an issue from what I've experienced...you just have to make sure you are buying at nearby support/resistance levels, that you are on the right side of the current trend and ALWAYS have a stop in place (even if just a mental stop)...decay is an excuse for not being disciplined to one's sell discipline (ie no stop in place)....when these suckers start trending they can move in a hurry so just holding intraday will leave a ton on the table (which unfortunately I've done).
Awesome!!! Yes that GDX/GLD ratio
Posted by matt on 5th of Jun 2009 at 10:08 am
Awesome!!! Yes that GDX/GLD ratio works well and combined with the negative divergence and 5 wave, looked very objective for a short
Matt's GDX 60 min with
Posted by Peridot on 5th of Jun 2009 at 10:02 am
Matt's GDX 60 min with retracements - one more time.
Matt's GDX 60 Min with
Posted by Peridot on 5th of Jun 2009 at 09:59 am
Matt's GDX 60 Min with retracements.