Getting down with Russell 2000 - URTY/SRTY

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#1 Fri, Aug 12, 2011 - 12:49pm
Justin
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Chesapeake, VA
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Getting down with Russell 2000 - URTY/SRTY

Russell 2000 3x bull/bear ETF's

The PM's, miners and related equities are too "iffy" for my taste currently, especially now that the CME has at least one gold margin hike under their belts. Decided to ride the general market momentum until gold/silver figure out what they're going to do with themselves and picked the Russell over the other indices.

Hopped in to some SRTY on July 19th and rode it until Aug 9th for an 81.5% profit. Booked the profits and rolled the initial position amount over into URTY on Aug 10th once I felt that a temporary bottom was in with the market sell-off. Debt ceiling debate is over, S&P downgrade fear has waned... financials are the only thing worrying me pertaining to another broad market sell-off. Either way, I'm a gamblin' man and holding URTY over the weekend. Let it ride!

Edited by: Justin on Nov 8, 2014 - 5:15am
Fri, Aug 12, 2011 - 6:59pm
Dr Durden
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I like your style. I've been

I like your style. I've been watching the levels on those too. Have alerts set up on both.

Thinking we go up and test at least the 200ma's on the major's before the numbness from the hopium wears off and then slide down into the abyss were we ought to be. But then WTFK's? Guess that's why you gotta be a gamblin' man.

Got GIABO? "It's called the American dream, because you have to be asleep to believe it." ~George Carlin
Mon, Aug 15, 2011 - 5:50pm
Justin
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I'm expecting a continued

I'm expecting a continued rise in equities after the sell-off and it should be self-sustaining until we get closer to the end of the European ban from short-selling financials which ends on the 26th of this month. If the ban isn't extended then odds are financials will be leading the markets lower again, because let's face it, that's an inevitable scenario that keeps being pushed to the back burner with temporary "band-aid" fixes.

Glad I held URTY over the weekend, but I was constantly checking my phone all hours of the day to make sure no surprise news stories reared their ugly heads that would point to a decline come Monday. Probably not going to push my luck any further and will stay empty handed over weekends for the foreseeable future, regardless of whatever positions I pick up during the week. Should be interesting to see how things play out between now and the 26th, which coincidentally is right around Jackson Hole.

Only root karate come from Miyagi. Just like bonsai choose own way grow because root strong, you choose own way do karate same reason. - Mr. Miyagi

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