Going Short

Next week projects a trend reversal on the both weekly and daily charts. I've shorted with my new usual suspects.

SDS
DXD
BGZ
TZA

I'll update the tracker with the entry points once I have the fills.

Closed Longs.

Well I've closed the long trade scheduled for 12/13 Nov. I jumped the gun and tried to pick a bottom around 900-910 on the SP500. The 2 day jump cost me dearly. Next time I'll stick to the plan. My loss was magnified since I went all in w/ leveraged ETFs.

If I'd stuck to the plan, I would have at least broken even w/ a possibility of a 5% profit. Live and learn.

Bought some oil - USO

I think oil's run is nearly done and is a bit overdone. I've bought some USO as a fairly longterm play.

Market on Close - 11 Nov

I've updated my trade results with the latest entries.

The close below 900 on the SP500 is bit ominous. I'm already in for the projected bottom (12/13 Nov), but the close at 898 could mean that we need to revisit 800-850 before turning up.

I guess it's time to hang on for the ride.

I'm in for ITD3

Jumped the gun yesterday bought in with the SP in the 910 range. Was mostly flat at the close.

DDM $33.81
SSO $28.52

Bought some of the 3x funds today with the SP500 in the 900 range.

BGU $41.90
TNA $41.05

Also picked up some QLD at $28.76

I think I've done all the damage I can take for now.

3x ETF's

Here's a list of the new 3x ETFs.

Bull ETFs
BGU Russell 1000
TNA Russell 2000
ERX Russell 1000 Energy
FAS Russell 1000 Financial Services

Bear ETFs
BGZ Russell 1000
TZA Russell 2000
ERY Russell 1000 Energy
FAZ Russell 1000 Financial Services

China stimilus package

China has announced a huge 586 billion (yes that's a B) stimulus package. No reason why the market is up since it's really an admission of just how bad things really are worldwide. Beginning to look for an entry point as this upmove sells off.

Next trade - ITD3

The next CIT is due 13 Nov. This should correspond with an ITD3 bottom. No reason to be in a trade until 11-12 Nov. So my plan is to look for entry points on the long side early next week.

I'm also going to start watching the new 3x ETF's based on the Russell index's.

Closed Short - ITD2

I couldn't take it anymore. I'm out. nearly 100 SP points in 2 days. Just crazy.
I'll post a final tally later today w/ the entry and exit points.

My individual trade results have been updated.

Trade management

Took half of the DXD,SDS trade off locking in some nice profits.
Setting the stop loss for the remaining half at 55% of yesterdays move.

After the close 5 Nov - %5 down

A 5% down move really doesn't come along very often. Okay I know lately it's been quite often, but it the grand scale it's really unusual. I'll try to lock in most of yesterday profits today and look for another spot to go short again.

SDS - 85.74
DXD - 72.51

ITD2 Top

I jumped earlier than the planned short on 6 Nov. The market is up again and we have some nice divergence showing that momentum is declining.

So I now hold 2 short ETFs.
SDS @ 79.33
DXD @ 66.77

Momentum fading

Momentum seems to be fading this morning. I've closed the SSO and DDM trades. It occurred to me that no one wants to be long over a weekend, so I'm flat until Monday.

First post

I was stopped out yesterday of a nice SSO trade by the insane drop in the last 5 or 6 minutes of the trading day. I managed to get back in both SSO and DDM near the lows of yesterday. I expect to hold these until 5 November.

Entry points:
SSO - 29.94
DDM - 35.50