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dirtyharry's Recent Activity
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Feb 25 at 3:27AM (EST)
Commented on “Correction not over”
dirtyharry: “And on that note, here is a credited reprint of an article from today related to FCX: This Commodity Could Suffer a Catastrophe Soon By Matt Badiali It's not often a major stock or commodity gets set up for "catastrophe," but when it does, I stand...”
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Feb 17 at 2:48PM (EST)
Bought TZA (Direxion Small Cap Bear 3x Shares) @ $9.52 | 98.4% of portfolio.
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Feb 15 at 9:40PM (EST)
Commented on “GOLD&SILVER: WHO SAID IT WILL GO DOWN AND WHY THEY ARE DAMN WRONG”
dirtyharry: “It all moves in cycles. If you're talking short term, I just did a spread trade on gold/silver. I shorted gold and made money. Lost on the silver side, but doubled up on the bottom when I sold the DZZ and ended up walking away with a net profit. Long...”
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Feb 12 at 7:20PM (EST)
Commented on “Correction not over”
dirtyharry: “Agreed that the market is in for a sharp downturn. I am in cash at the moment. Before I short, I want to see the S&P at least break it's 13 day EMA to the upside....then give a reversal. I won't enter until I see both the break, and a reversal though. ...”
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Feb 11 at 3:03PM (EST)
Sold AGQ (ProShares Ultra Silver) @ $47.48 | 99.8% of portfolio.
Lost -2.22% | Held 10 days.
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Feb 10 at 9:49PM (EST)
Commented on “VION PHARMACEUTICALS INC. : YOUR OPINION IS NEEDED URGENTLY”
dirtyharry: “"I personally have been of the thought since day 1 that they are all the same person. DEVILANGEL = BWinFraud = Pennyking = OTCBBTrader." Agreed - and if staff doesn't do something soon, marketguru will probably begin losing regular vistors.”
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Feb 10 at 5:48PM (EST)
Commented on “SCAM AND FRAUD ALLEGATIONS IN DIREXION ETF'S”
dirtyharry: “I just found that other handle. ROLEX18K Hey ROLEX18K....knock knock... is that you?”
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Feb 10 at 5:27PM (EST)
Commented on “SCAM AND FRAUD ALLEGATIONS IN DIREXION ETF'S”
dirtyharry: “"So what exactly doesn't add up? Regardless of whether you think TZA is the "opposite" of TNA or not, they are performing almost exactly opposite returns, and very close to their marketed behavior. So where exactly is the scam again?" The scam is in ...”
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Feb 10 at 5:18PM (EST)
Commented on “SCAM AND FRAUD ALLEGATIONS IN DIREXION ETF'S”
dirtyharry: “Still strange that you criticize this instrument to no end, and then go 100% long in it - even in a fantasy account. Why would you buy something that you think is complete crap, even for pretend? I mean why waste the keystrokes? Nevermind. Don't answe...”
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Feb 10 at 4:42PM (EST)
Commented on “SCAM AND FRAUD ALLEGATIONS IN DIREXION ETF'S”
dirtyharry: “What a clown. And a belittling one at that. Of course you are leading by example..... oh wait... you're 100% TZA at marketguru. Odd.... you rail against this instrument, then go 100% long in it. (Do as I say, not as I do?) Irish was making a 30 day c...”
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Feb 08 at 2:31PM (EST)
Bought AGQ (ProShares Ultra Silver) @ $44.30 | 56.7% of portfolio.
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Feb 08 at 1:30PM (EST)
Sold DZZ (PowerShares DB Gold Double Short ETN) @ $14.83 | 56.7% of portfolio.
Gained 7.78% | Held 7 days.
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Feb 05 at 5:54AM (EST)
Commented on “Community Year Vote S&P 900 this year?”
dirtyharry: “"can the Fed suck up liquidity in record time (I think yes)" How do you think they will accomplish this? What will the side effects, if any, be? Furthermore - if they really do suck up the liquidity "successfully" (that word is open to interpretati...”
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Feb 05 at 4:18AM (EST)
Commented on “Gold - Who want to short it for long term ?”
dirtyharry: “Gold broke the support that was illustrated above.......”
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Feb 05 at 4:17AM (EST)
Commented on “Community Year Vote S&P 900 this year?”
dirtyharry: “Lobots - The issues we face are numerous. First of all, the lying among nations and companies alike is beyond what the media reports, and even more than what most skeptics assume. The debt problems that currently exist are atrocious. Even thinking t...”
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Feb 04 at 4:32PM (EST)
Commented on “Community Year Vote S&P 900 this year?”
dirtyharry: “We retest the bottom THIS YEAR, and there is a good chance we break a bit lower.....possibly even into the 500's.”
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Feb 03 at 3:00PM (EST)
Commented on “SCAM AND FRAUD ALLEGATIONS IN DIREXION ETF'S”
dirtyharry: “Here's your basic math: Scenario: Underlying index rises 10% on day Unleveraged ETF: Goes from $100 to $110 3X ETF: Goes from $100 to $130 Scenario: Next day, index drops 10% Unleveraged ETF: Goes from $110 to $99 3X ETF: Goes from...”
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Feb 03 at 12:14AM (EST)
Commented on “SCAM AND FRAUD ALLEGATIONS IN DIREXION ETF'S”
dirtyharry: “Yes, the graph illustrates the compounding error that I already explained above. I disagree with you that the decline in share price is actually being absorbed on the other side of the trade as profit by Direxion. You're suggesting this is some kind of ...”
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Feb 02 at 4:25AM (EST)
Commented on “Gold - Who want to short it for long term ?”
dirtyharry: “BTW - I did the Gold/Silver spread in real money. Long DZZ, Long AGQ”
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Feb 02 at 2:58AM (EST)
Commented on “FIRST GOLD: FIRSTGOLD CORP. FILES FOR BANKRUPTCY PROTECTION”
dirtyharry: “Still - there's a good way to play the juniors in gold and silver: GDXJ It was up over 7% today and is diversified so you don't lose everything by betting on a soon to be bankrupt company.....”
“Make Your Own Rules„
After the recent market blow up several things have become clear: The old rules are dead and value is dead. Excellent companies are punished for no reason, while junk companies soar on "negative earnings" and pure speculation. It's not the first time this has happened and it won't be the last - but it's the last time I'm going to get burned in the chaos.
I have changed my approach as of May 2009 both here and in my personal portfolio. I now seek neutral spread trades that profit whether the market goes up or down. These are the types of trades that don't care about the madness that's going on around them.
I will still go long stocks, and short from time to time using ETFs. However, the main trades are going to be large spreads that are seeking 3% - 6% gains in a 3 to 14 day trading window. This is now achievable in a regular equities trading account using both leveraged and unleveraged ETFs. Sometimes severely depressed issues will be purchased as well on the anticipation of a sharp market recovery.