Comments on: Weekend Update…

By: jimmielewis

jimmielewis — Fri, 12 Feb 2010 02:16:22 +0000

hey red – thanks for sticking with us! i got down to the very end…margin call all week. todays upward motion brought me out of it and in addition, my csco call advanced for a nice
little gain which enabled me to buy the fcx 70 put for tomorrow. if things work tomorrow, i'll have a great rebirth of
enthusiasm for, well, EVERYTHING! heh love the charts and graphics, and i'm finding the commentary very useful too; i am
glad to be able to read it.
i am also short bac (and a little in the money!), so i have great hopes for the next wave down. now, when to sell…
what is your post-thursday forcast for next week?

By: jimmielewis

jimmielewis — Thu, 11 Feb 2010 20:16:22 +0000

By: Apple Al

Apple Al — Mon, 01 Feb 2010 13:37:35 +0000

I'm working with some folks on marketing it.

By: monicadern

monicadern — Mon, 01 Feb 2010 13:21:17 +0000

Thanks Dnarby – totally true. When they go against you, they seem to make big moves and when they are in your favor, the 3x are more like 2x. Still. I'll take it.

By: raised_by_wolves

raised_by_wolves — Mon, 01 Feb 2010 04:58:59 +0000

Project Camelot is reading like science fiction to me. I'm open-minded enough to think that some or all of it is plausible. However, I wouldn't need to believe any of it to come to the same conclusion that one should find a safe place and do it now.

What I do know is that natural disasters and human atrocities have occurred throughout history, and, although Americans have enjoyed a period of relative stability, the world as a whole is potentially more volatile than ever.

So, Red, how far along are you in securing a safe place? Still at the beginning of the brainstorming phase like me or further ahead?

By: dnarby

dnarby — Mon, 01 Feb 2010 03:32:11 +0000

They work fine as long as you don't plan on holding them longer than ~6
weeks (after a couple weeks the 2x are like 1.9x and the 3x are more
like 2.7x, but the leverage is still free).

By: monicadern

monicadern — Mon, 01 Feb 2010 01:37:44 +0000

Is it that one about the decay? I totally know they are lousy instruments but I don't want to dig into margin and I don't want to try to pick stocks. So be it.

By: Red Dragon Leo

Red Dragon Leo — Mon, 01 Feb 2010 01:20:17 +0000

Thanks G…

I hope it works out too, because I'm long the USO. I would go long the SPY, but it's just too risky. Oil isn't as highly manipulated and should move up to about 38 by Friday.

We'll see…

By: gcocks83

gcocks83 — Mon, 01 Feb 2010 01:13:50 +0000

Red, Enjoyed your post and all the comments below. Some nice feedback. I hope your scenario of a bounce this week plays out.

By: gcocks83

gcocks83 — Mon, 01 Feb 2010 01:11:44 +0000

Hi Monica, Sending you an email about 3x etf's.