mathjak's daytrading adventures

[amdda01]

pmward onto something:

* IAU : +4.78%
* TLT : +3.81%

I know you're lickin' your chops, MJ.

[mathjak107]

meh ... the fact equities are down so much takes the fun out of the little hits

[amdda01]

Hear ya - Any predictions for tomorrow (3/24)?

[mathjak107]

can't even guess ..we may get a bump up in stocks if congress plays nice but that will be short lived .

being at the epee center here in nyc i can tell you things are getting worse and worse ...i think markets may only be 2/3;'s to half way to a bottom .

our governor said we maybe locked down pretty much until as long as june

[mathjak107]

bought 200 shares sdow at the close ... i figured 3 days of gains and a friday says we are ripe for a down day

[Cortopassi]

Bad timing mj, didn't you get the news? We are already back in a bull market <sarc>

[mathjak107]

sdow sold .....up 10% since the close ...

[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.