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Post by bankedout on Jul 1, 2015 10:26:42 GMT -5
My buy stop triggered for DWTI today, and I was filled at $70.08 for about 20% of my account value. My sell stop is set just below the low of today, in case I am wrong.  |
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Post by bankedout on Jul 2, 2015 16:23:49 GMT -5
My portfolio as of 7/2/2015:  |
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Post by bankedout on Jul 9, 2015 14:21:57 GMT -5
My buy stop triggered for UVXY today and I was filled at $46.565 for about 20% of my account value. My sell stop is set at $44.79 in case I am wrong. Since UVXY is my horse this week, we can expect it to open -50% gap down tomorrow!  |
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Post by bankedout on Jul 10, 2015 13:24:44 GMT -5
My buy stop triggered for UVXY today and I was filled at $46.565 for about 20% of my account value. My sell stop triggered for UVXY this morning, and I was sold out at $43.68 |
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Post by bankedout on Jul 11, 2015 10:14:25 GMT -5
Portfolio as of 7/10/2015:  |
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Post by bankedout on Jul 13, 2015 10:24:16 GMT -5
My conditional buy order for DSLV triggered today and I was filled at $62.56 for about 20% of my trading account. I am using a conditional order as a "stop" based on the trading price of SLV. DSLV is not very liquid, but SLV is very liquid, so that is a good workaround. If SLV trades at or above $15.01, I will be sold out of DSLV at the market. Even with illiquid ETFs/ETNs the market maker or specialist usually keeps a fairly decent bid/ask based on the asset value, regardless of whether trades are occurring in that instrument. Precious metals are weak lately, and my guess is they could greatly weaken. Especially if that yellow metal finally makes some new lows.....   |
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Post by bankedout on Jul 13, 2015 10:30:01 GMT -5
Waiting for that yellow metal to create some fresh lows:  |
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Post by bankedout on Jul 16, 2015 10:59:24 GMT -5
My conditional order to buy DSLV triggered today and I was filled at $67.01 for about 20% of my account value. So that roughly doubles my position. I have a conditional sell set at if SLV trades at or above $14.72 as my "stop" in case I am wrong.
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Post by bankedout on Jul 16, 2015 13:45:05 GMT -5
My buy stop triggered for DWTI today and I was filled at $98.14 for about another 15% of my account value. Without counting mark to market gains on the initial 20% position, this buy would bring me up to a 35% position size. My sell stop is set at $92.94 in case I am wrong.
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Post by bankedout on Jul 17, 2015 15:09:13 GMT -5
Gold weakened a bit today, so I added another 20% of my account value in DSLV. I was filled at $68.52 This brings my position up to about 60% of my account value.  |
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Post by bankedout on Jul 18, 2015 10:00:01 GMT -5
My portfolio as of 7/17/2015:  |
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Post by bankedout on Jul 18, 2015 10:31:51 GMT -5
I think a lot of people have been surprised with Crude Oil's recent price action. Looking at the Weekly chart, I'm guessing most were thinking the double bottom was in, and higher prices were coming:  We had been consolidating after the breakout of the double bottom, and I am guessing quite a few people were accumulating long positions. And then Surprise! the next move is to the downside. Looking at the Monthly chart:  It is somewhat rare to have that large spike down, and not rebound from there. So another reason to think "long". My guess is that catching so many people off guard, or surprising so many, crude may still have more downside left. As longs reluctantly give up their positions, and shorts add to their positions. The US Dollar is strengthening again, as evidenced by the Euro and Yen. I believe that adds downward pressure to all commodities. A strong dollar buys more of anything. |
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Post by bankedout on Jul 20, 2015 16:00:31 GMT -5
This is a frustrating trading day. Normally Silver is more volatile than Gold. Today, Gold was very weak. As was Platinum, Palladium, and Copper. Silver found bids, at least during part of the session. Uhhh.... The miners were very weak as well. If I had chosen DUST or JDST instead of DSLV I would be much further ahead. My rhetorical question is, why weren't traders selling Silver today?  !!!! It is painful to be right about Precious Metals, and assume the risk, but not get rewarded! Lessons are repeated until they are learned: Trading can be frustrating! |
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Post by dg on Jul 23, 2015 15:40:44 GMT -5
Frankly Jim, I don't think that logic has anything to do with market action. The more I watch it, the more convinced I become that it is a con game played by crooks, crazies and suckers. I wonder what the market would be like if investment brokers were required to participate in the losses of their clients. I suspect behavior would change radically (and even perform in logical fashion). Okay, I can dream ...
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Post by bankedout on Jul 23, 2015 16:55:01 GMT -5
Perhaps Silver traders are holding on to their last little bit of hope in old support to hold:  click for larger image The other metals have given up hope (and prior support), as have the mining stocks. My guess is Silver traders will give up their long positions soon. The metals selling pressure all around them must be weighing on their minds. I think markets are largely emotion driven, especially over the short term. I think Warren Buffett has said something like: In the short term markets are a voting machine, in the long term they are a weighing machine. Don't quote me on that. It definitely seems like a game. Some have called it a zero sum game. I enjoy the challenge of financial market trading, but as you saw with my prior post, it can be frustrating at times! |
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