mathjak's daytrading adventures

[amdda01]

Nailed it.

[mathjak107]

just a lucky guess ... i mean 4 days of up in stocks was really betting against the house ... fridays too tend to see traders unload more often than not.

the odds said we were due for a drop .....

[dualstow]

Yeah Fridays often involve profit-taking, but especially when the market is on shaky ground.
I don't short and I wasn't as confident as you, but I thought, my dollar cost averaging will work a little bit better tomorrow.

[mathjak107]

mondays too can be awful , but sdow is a 3x inverse fund .. it can do damage quickly ..... it was the first time i ever bought it .... i kind of wish i lost a bit so i would be less inclined to do it again .

[pmward]

mondays too can be awful , but sdow is a 3x inverse fund .. it can do damage quickly ..... it was the first time i ever bought it .... i kind of wish i lost a bit so i would be less inclined to do it again .

Yeah I've been burned by 3x ETF's in the past as well. One of my rules that came from that is to never hold one overnight. Overnight gap risk is too much, especially in volatile markets like this. Intraday trades only for me on levered ETF's.

[mathjak107]

High yield is starting to look very attractive....the market is pricing like every company is going to default ....we saw this a few years ago when oil was on the rocks ......high yield soared ..... I will be taking a decent size position this week in Fidelity Sphix ...I want only managed when it comes to high yield

[pmward]

That's a ballsy move, as a mass default and corporate deleveraging is a real possible outcome of this. How are you sizing it? Is it a small percentage moonshot or are you putting decent size behind it?

[mathjak107]

That's a ballsy move, as a mass default and corporate deleveraging is a real possible outcome of this. How are you sizing it? Is it a small percentage moonshot or are you putting decent size behind it?

prices reflect a huge amount of defaults already .likely far far more then actually will pan out . they lost as much or more than stocks did.

last time oil fell in 2016 the high yield market sold off like now .... for the year my fidelity high yield fund was up 19% while equities were up less ...

it is a crazy market and sell offs tend to be way over done . interest rates are in the 6% range so it has quite a cushion for a bit more down .

[mathjak107]

bought some hyg... it is paying a crazy rate of interest for the risk

[Kriegsspiel]

What does HYG do, sell fluffy sweaters and comfortable fireplaces?

[amdda01]

Are you planning on holding - or quick turnaround?

[mathjak107]

I will see ... at these interest levels on it in a zero world I have quite a cushion ....I am going to shift a major bond position of my portfolio over to fidelity high income maybe Thursday or Friday and I may just put this towards that position

[mathjak107]

What does HYG do, sell fluffy sweaters and comfortable fireplaces?

They are high yield bonds which are way over sold in my opinion and interest rates on them are very attractive ....the market priced them like equities and they saw the same drop...as usual the markets over react most likely

[mathjak107]

Also bought Gld today 335 shares 149.35.. still have an open limit order on uso at 4.04

[amdda01]

Good timing on TLT - up 2.32% already.

[mathjak107]

i may decide to let it play out longer than a quick pop

[amdda01]

Did you get in on USO?

Almost +16% today.

Also, Bitcoin almost +20% today!

[mathjak107]

Oil had a good pop ..I missed getting it by 5 cents the other day ..I had an order at 3.99 and it hit 4.04

[barrett]

mathjak, I know you are a big stock guy and am curious what your allocation is after this drop. I thought you said somewhere (maybe earlier on this thread) that you were somewhere around 25%. Is that about right? Thanks.

[mathjak107]

mathjak, I know you are a big stock guy and am curious what your allocation is after this drop. I thought you said somewhere (maybe earlier on this thread) that you were somewhere around 25%. Is that about right? Thanks.

Yes .....


Over all I am about 25% equities...

Very high cash levels though .... I sold a lot of my total bond and corporate bond holdings to be deployed elsewhere..eventually I will work up to 40% or so in equities ... I was actually lower than 25% since the drop but I have been adding on the drops so I am back to 25%

[mathjak107]

bought today

4/06/2020

Buy 1,000 of USO at Market (Day) Filled at $5.47

04/06/2020

Buy 200 Shares of SDOW at Market (Day) Filled at $40.6801

[mathjak107]

Futures down 85 ....come on sdow ......

[pmward]

You're short, and I took 5% off the table into cash today... so this means the market is likely to blow up in both of our faces tomorrow, LOL.

[mathjak107]

That would be typical.....but so far futures down at least now and oil up ....I don’t hold these very long at all ......especially sdow that was down something like 22% today .....

Right now my one day a week of work is on hold so if I make a days pay I am happy

[var]

That would be typical.....but so far futures down at least now and oil up ....I don’t hold these very long at all ......especially sdow that was down something like 22% today .....

Right now my one day a week of work is on hold so if I make a days pay I am happy

what kind of gain are you holding for these udow and uso?

how has your results been with uso?