re: Dont let today's fools gold fool you.

Don't hate on CPA's!

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Don't hate on CPA's!

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CPA's are CFA's but without the personality.....

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Seriously, you realize how broad based the comment was? Where is the Tuesday, 23rd call for the big pop? Where is your magic for today/tomorrow? I am not arguing just to argue, but pseudo forecasters make money off the masses by making broad sweeping proclamations, like "for the ride up" while leaving themselves outs as to to timelines and magnitudes of moves. One day, 3 days, a week, gonna take 6-months, how much is the projected upside/downside? There is zero precision in the statement "for the ride up".

Glad you made money.

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Dear God.
Read the thread or don't read the thread tb, but if you do you may actually find we're kind of on the same side.

Yes I make money, and made money off this play. Not the point! Personally my strong preference is holding > LTCG timeframe and maintaining a diversified portfolio precisely because I can't time the market reliably. Current market fluctuations do entice a trading range approach in certain instances though. We've enjoyed success with a variety of undervalued stocks bought, sold, then bought again within a trading range. Not optimal, but given present volatility in a relatively flat LT market, it works. Again, in scenarios with decent long term alternatives, short term trading is not my preference, but you take what you can get.

In terms of the ETF trades, some folks are predicting another drop following the Fed's annual symposium Friday. If the DJIA falls back to the 10,800 range, then I'll pop back in with a levered position or two "for the ride up" again. You are absolutely correct in assuming I don't care in those instances whether the market pops back up in two days or twenty. I'd usually be disappointed holding a levered ETF longer than a month or two d/t decay considerations. But that's (1-60 days) the extent of my "timing" or "pseudo forecasts."

Regardless, and in stark contrast to the OP (that was the point of the post, e.g., previous note here of SSO purchases vs suggestion to short SSO by the OP), portfolio boosts with levered ETFs on dips makes sense even if it's generally not my thing. Not portending, or claiming to be the second coming of Nostradamus, but in the 1120 range, the S&P has quite a gloomy outlook (recession) priced in. Odds are very good of a move up from there over the short term IMHO --- rather than a move down as the technical analysis posted here indicated.

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In terms of the ETF trades, some folks are predicting another drop following the Fed's annual symposium Friday. If the DJIA falls back to the 10,800 range, then I'll pop back in with a levered position or two "for the ride up" again. You are absolutely correct in assuming I don't care in those instances whether the market pops back up in two days or twenty. I'd usually be disappointed holding a levered ETF longer than a month or two d/t decay considerations. But that's (1-60 days) the extent of my "timing" or "pseudo forecasts."

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Some might call that short term "rebalancing".

Once upon a time I had a bad experience with a 3x levered instrument on a really volatile day, you may find it very hard to exit the position at a specific price, stop limit or otherwise, which is why I don't use levered ETFs anymore.

I have used PSTIX but it is a fund so no ability to buy/sell during trading hours. I'm more into PE10/valuations/global economic/political conditions/tactical positioning, also not into losing a shite ton of money long term. I added $50k in equity on the two worst days recently into opps I had been monitoring awhile, still at 25% (ETA-now up to 27%) equity and it is going to take a significant dislocation to generate any more interest from me due to the low cost basis of the remaining equity in the portfolio, other holdings, and the expected return of the portfolio. Ben Graham was a very bright man, 25/75 is a good tactical concept from him.

Look at some of the moves in the latter part of 2008, estimating and selling a holding that might move 14-18% in a day isn't simple when trying to maintain wealth, set a stop loss and it blows right through it. Read the recently released Fed lending stats to global financial institutions from 2008-2010 and imagine how bad things really were 9/2008 onward. CEO's lie to the public as much or more than poli's, especially those running big financial institutions.

I'm listening to bloomberg radio to possibly gauge a quick jump or dip. The speech isn't televised but they will be releasing highlights as soon as it's over. Ibd's outlook is uptrend under pressure so it's still risky either direction.

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CPA's are CFA's but without the personality.....

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KFizz doesn't know whether he is insulted or happy.

:accountantBOOM:

I love the irony of that comment in the context of misplaced grammar. Messageboards and autocorrect have completely killed the proper use of the apostrophe.

*whistling*