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Heheheheh :D

Yeah, ES hit 850 right at the close and bounced, so I took a 1/2 size in it. It's like we've both said at times - when it closes weak, it gaps up the next day. Plus the above observation. Kind of a gamble, but why not? ETA: here is the perfect place to be conservative, and use the < 1x...

I had FAS overnight and just sold it. I'm prolly done for now, since it's FED day, and take the dog to the river and throw the tennis ball for him. He's a fetch maniac....:eek:

Exactly. Hedging is ok if you're a huge fund and couldn't liquidate positions quickly, but not really needed for what WE do. The only hedging I've done is like I explained above - when I didn't have any daytrades available. Also note that I did a hybrid of what i described. I also went...

Yes, it depends on it. Which is why ETF's can be such good tools for <25K accounts. No need to take big losses if you plan for it. Which is ALSO why the 3x can be such good value. "Kinda" leveraged for big % gains when you're right, but the availability of the opposite position to...

You shouldn't. But that also works if you only have 1 "in the hole" and won't have any day trades available for 2 more days. Assume you're short FAZ and the market goes against you big. As long as you're not using more than your account balance - not using margin - you can buy FAS and...

Agree that didn't make sense to me either. Although, this makes me think about how to avoid the PDT rule. Assume that you only have 1 daytrade left "in the hole", and you were short C and long FAZ, and the market goes big against you. You could dump the C position, but not the FAZ, cuz...

No kidding about the leverage. FAS/FAZ are both around $1, so if you had $5000 in your account, you could get ~ 50 calls or puts = 5000 shares, vs ~ 900 shares in a margin account at 1.5x. SCARY!! :eek: I didn't know that options count against the PDT rule. I just thought that those with...

1- ok, this makes sense to my limited knowledge about options. Liquidity is good. Avoiding time decay is good. 2- this is the part I don't get about options though. I understand the protection that making both bets make - limited downside, potentially unlimited upside - but the same could be...

June? I'm interested in learning about options for longer term plays to better utilize my account balance, so I'd I'd like to hear the reason why you didn't buy May calls. I'm personally not interested in looking that far in advance, so May seems more appropriate to me...

Today's price action is like this guy's flying. http://www.youtube.com/watch?v=oXROGj1jXv8

Pffffffffffft. .02 made, LOL....

Yeah, jumping on NOW would be a little iffy. This is a higher low on my midterm chart, but at this point, I'm not adding unless it goes through 9.20 strongly, retraces a little, and THEN goes up again cuz I'm still not too sure right here. I'd want VIX to be spiking up too. It's starting...

That's right, RIFIN.X Problem is, I've looked in both and neither one know what it is, LOL. Even typing in R 1000 financial gives me nothing. I have absolutely no idea what's going on here. VIX is down, TRIN is high and staying high, XLF is down, but FAS is barely down...... So, I...

Yes, there's some divergence there for sure. I know that FAS/FAZ track RIZIN (?), but there's usually a fairly close 3x relationship between them and XLF. But right now, XLF is down 2%+, but FAS is down 1%, where I would expect it to be down 5-6%. RIZIN tracks the Russell 2000 financials...

So will you look into options now like infinity? I ask cuz I've never studied options and am interested in making some longer term plays in options.

Yep. I just took a half size here in FAZ - 8.87. TRIN is staying up around 1.5, even though VIX has been coming down to flat, after being way up at the open. Also, XLF shows no interest in turning positive right here. If TRIN was moving towards 1.0, then I wouldn't do it, and look for a...

Exactly. We think differently. Even though I could be doing just as you did, I don't. Rather, I think like someone with a limited number of day trades, and wait a little more than you for pullbacks/confirmation, and stay with trends ina little longer time frame. This is the chart that I...

A little early, IMHO. This may just be a retrace. I still see the overall trend as down. But this is already good for a couple of %, so don't do like Port and hold cuz you want to be right. Take a gain and run. I still thinking FAZ right here.

Wasn't it Burton that KB about hit 55 laps from the end? Or someone else? Cuz that was a dumbshit move from KB if I ever saw one. He was leading the bottom line around, and the upper line was charging up when he just zoomed up there and damn near sideswiped someone - made the dude pull...