haha, salute sir, u're master of 3x ETF. I scared like )(#*&($#&* for 3x. I'm fine with my URE and UYG though.

No, I'm not the master. Again, just a small fish in the big ocean of sharks and killer whales.
You and I know, there are plenty of them at NYSE.

Just swimming along with them for now.. but keeping eyes open - if they ready open their mouth to feed,
jump back to land as soon as possible.

TNA seems quite a volatile one..

small cap 3xETF..

oil price up, but ERX not up, may be got other energy factors?

What is so ridiculous is stuff like this:

"US Stocks Fall As Pfizer Earnings Weigh On Health Care

NEW YORK (Dow Jones)--U.S. stocks fell Wednesday as health care stocks lagged after Pfizer posted a disappointing earnings outlook and U.S. service-sector activity increased by less than expected last month.

The Dow Jones Industrial Average recently dropped 39 points, or 0.4%, to 10255. Pfizer was its worst performer, off 2.6%, after posting earnings. The drug giant said its fourth-quarter profit more than doubled to $767 million, but the result lagged Wall Street estimates. It also scaled back 2012 revenue estimates and weighed on other health-care stocks, including Dow component Merck, down 2.3%. "

So...we have the DJIA weakened (at the moment) because two of its bigger components fell 2.x%.
One of which posted more than doubled Q4 profit.

Madness - sheer madness

Anyone who relies on these indices for more than +/- 5% of their decision making serious needs their heads examined IMHO.


This post has been edited by David_Brent: Feb 4 2010, 12:41 AM

Oil is leading indicator but ERX is energy play for Oil companies (XOM,CVX,OXY, etc).
ERX follows the Dow or S&P movement but mostly $RIENG (Russell 1000).
Use stop when dealing with 3x or buy in incremental small batches.

Good luck!

Update: 12:50am
The WTIC inventory report for Oil just came in.. up 2.3 million (bearish) in line with API the prior day,
Oil price rose earlier today in anticipation of lower inventory but Oil inventory grew instead since last week.
I see Oil could back down to $75-76 level in next two days but it may not last as gasoline inventory has dropped.
This will cause the upstream demand the following week, but I will remain cautious.
I will close out ERX if it drops below 38 at close (hopefully, it won't).

---

Added on February 4, 2010, 1:10 amYes, they are ridiculous. That's why, as trader, I tend to ignore most news.

It depends on your investment time horizon. On the longer trend, it is bullish. Short term, it is still a trader game play.
Remember, the market has short term memory.


Closing update:
Dow 10270.91 -26.30 -0.26%
Nasdaq 2190.01 +0.85 +0.04%
S&P 500 1097.28 -6.04 0.55%

Just a small pullback. No biggie.

After hours: I'm glad to read my one my fav. tech stock CSCO reported great earnings! Nasdaq will get a boost tonight.

This post has been edited by danmooncake: Feb 4 2010, 05:40 AM

ok lar.. after last night correction, the market will be up again tonight.

if it is bull market, any bad news will be come a rally..

the extended bull is due obama's deficit budget, should continue until next interest hike...

SOLD S @ 3.62 after market, $129 profit.
Will buy on dip again today. I'm expecting -50 to -100 pts but it is not happening.

Yes! I do rely on indexes for my decision making and it is unfortunate that market was not able to show theory of 'bear jump out from window' this week and which is your excellent doctor to recommend for head examination

As long as the line at the sideway of chart is not moving upwards, I am not buying any new positions

BUY on dips strategy on line today.

1 Mega news today and super mega news on Friday

9.30 PM :
Unemployment Claims [MEGA NEWS]
Prelim Nonfarm Productivity q/q
Prelim Unit Labor Costs q/q
Factory Orders m/m

Out of TNA premarket - small loss.
Out of ERX premarket - small gain. Therefore even out.

The initial jobless claims came in worse than expected, 480K vs. 455K, 4-weeks moving average rose to 468K. Be cautious, we could get a 3 digits pullback tonight.
The big one could hit tomorrow. If unemployment rises (which many expects), we could see Dow 10K or below.
Oil now back to 75. Gold, Silver and Copper all pulling back tonight. US Dollar looks like pushing another leg up.

But, some of the companies that reported earnings seems very good.
Cisco (CSCO) sees a very good outlook for tech spending esp. in infrastructure and networking.
Cisco says that they're hiring and they hired 2000 people last quarter.

Even the badly pummelled Toyota has great earnings last quarter and even raise their outlook despite massive
'bad accelerator' recall hitting them. I'm sure this will hit them next quarter but their commitment towards quality
won't affect their loyal consumer towards their brand. I think TM is a buy at around 70.



This post has been edited by danmooncake: Feb 4 2010, 10:34 PM

As I wrote @ other thread, we will revisit 10,000-10,050 tomorrow.

Q buy RBS, ING and UNG.

I think we could break below 10K and another leg down following week if negative sentiments continue.
Do save some bullets and prepare to go long at the next support level if not riding down now.

This post has been edited by danmooncake: Feb 4 2010, 10:47 PM

confused leh yesterday u said 10,500 boleh mari, now wat to do nex?

aiya, im an analyst @ GS. Like they said, cannot trust 'em like

Mebi I salah wrote 10,500 instead of 10,050??

u analis ni suka suka saje letak itu '0' kat meratata tempat. faster go buy the dip, pasar needs all ur full support bulls go pray 10k can hold

susah loh. Hope to maintain 10,000 oh.

blood wash..

BOUGHT Long ING x 500 @ 9.50, straight well down to 9.32 now.

Another batch will be on at 9.25. She will raise back to 10

UNG pending LONG at 9.50 as well. Another waiting is RBS at 10.10

u got another 5 hours to pull ur bull team together, pray hard & go buy the dip
ensure ur bull not stepping on shit, otherwise result is bullshit
klse u got 100% bull members, ask them support the pasar & BUY fast fast

duh, 90 pts to 10000. 2morow could be RED data, so 10K is quite possible