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Flame all you want but I've started buying...
- Thread starter drukes1234
- Start date
Quote from drukes1234:
Whether you're joking or not.. USO is oil, RSX is Russia, XHB is homebuilders
I expect these to go lower as the trend is so definitively down, I'm not leveraged and am looking as these as very long term plays. Furthermore I only have 5% of my portfolio in these because I still need the majority of my portfolio for trading, I just wanted to point out the absurdity in the valuations IN MY OPINION of these ETF's.. just my opinion
OK, big deal, 5% of your portfolio. Let me know when you make an important financial move. 5% of your money doesn't make any difference at all. "unleveraged" at that. Let me know when you put 1/2 your money to work. That way we know you're committed, you got something to lose AND something to make. You're aren't just playing a game with 5% of your money. Sheesh.
OldTrader
Quote from OldTrader:
OK, big deal, 5% of your portfolio. Let me know when you make an important financial move. 5% of your money doesn't make any difference at all. "unleveraged" at that. Let me know when you put 1/2 your money to work. That way we know you're committed, you got something to lose AND something to make. You're aren't just playing a game with 5% of your money. Sheesh.
OldTrader
I guess it was only a matter of time until a thread with very productive responses had a reply by a grumpy old man that had nothing better to do with his time
OK
You've gone from ...
You know what, you let these guys talk you out of your position.
You've gone from ...
... to ...Quote from drukes1234:
... I'm not leveraged and am looking as these as very long term plays. Furthermore I only have 5% of my portfolio in these because I still need the majority of my portfolio for trading ...
Talk about a lack of conviction, LOL.Quote from drukes1234:
... Having said everything I already said, with futures getting a nice bounce tonight, if I'm up some money in the morning I will probably trim my positions to only 2% of my portfolio as my mentality is refined as a tick by tick trader, my personality is not suited for longer term investing, but these prices are way too good to pass up.
You know what, you let these guys talk you out of your position.
Yes I do have a lack of conviction, I'm a trader, not an investor, I just see these prices as absolutely absurd, but it is not my arena of expertise.
Quote from drukes1234:
Yes I do have a lack of conviction, I'm a trader, not an investor, I just see these prices as absolutely absurd, but it is not my arena of expertise.
Stick to what you feel comfortable with. You won't do yourself any favors fitting yourself into the wrong round hole.
(heheheh - I'm laughing because I was really thinking of the square peg metaphor.... That came out well...)
Quote from drukes1234:
I guess it was only a matter of time until a thread with very productive responses had a reply by a grumpy old man that had nothing better to do with his time
Evidently if you have nothing to say about the point that was made, just personally attack.
5% is like betting one chip son. You lose it all, your portfolio is down 5%. In fact, if I understood correctly, you put 1/3 of your 5% to work. LOL! So like I said, big deal. When you get around to making a bold call, let me know.
OldTrader
10 years? Highly unlikely. You know how much it takes (effort and money-wise) to change the existing infrastructure to support it?Quote from crash n burn:
oil is finished as a prime commodity. economies are shifting towards renewable environmental friendly fuels. i expect that within 10 years, most big cities around the globe will ban the use of fossil-fuel vehicles and many industries will have in place plans to phase out fossil fuel dependancy.
Diesel is a more efficient fuel than gasoline. How many gas stations have you seen that sell diesel? And how many vehicles have diesel engines? How long has diesel been around?
Progress is usually driven by economic factors, not idealogies or brute-force regulations.
United States of America may be the only country in this world which still uses English systems instead of Metric systems. Why?
Quote from drukes1234:
... I know this is a trading arena and I'm as short-term a trader as anyone but some of these valuations are absolutely ridiculous so I have decided to put on some longer term positions. I will leg into these trades in 3 phases but would be very comfortable buying at these levels in one phase.
I am long the following. I have long term targets but if we get some sort of mega dead cat bounce rally of 20-30% in a quick fashion I may just take profit.... I'm still a trader at heart
USO from 24.55 target 47 and 60
RSX from 10.83 target 25 and 30
XHB from 8.92 target 19 and 22.50
drukes, this market reminds me of the 90's tech bull market. Everyday I thought the market couldn't possible go higher, but it did. Now I think it can't possibly go lower, but it does. There's something wrong here, something has changed, I don't know if people don't like Obama in the White House, I don't know if they are scared of financial firm failures, but something isn't right here. Frankly, I almost want to post in agreement with you, that the bear market is over and it's time to buy. But everytime for hte last year I've thought that, I've been wrong.
Quote from OldTrader:
Evidently if you have nothing to say about the point that was made, just personally attack.
5% is like betting one chip son. You lose it all, your portfolio is down 5%. In fact, if I understood correctly, you put 1/3 of your 5% to work. LOL! So like I said, big deal. When you get around to making a bold call, let me know.
OldTrader
OldTrader, going into an overnight trade with a big % of your capital is a great way to blow up. I've had longevity in this business and I'm not planning on changing my conservative style. I'll be here trading in 40 years... your responses lead me to believe you will blow up before then... unless of course you trade paper money and judging by the number of posts you have I can assume you spend more time on ET than trading