<p>Short gold?</p>
<p>I had a look at the gold chart and it did look like more downside ahead. My gut told me $1,300. If you look at the decline in 2011, you’ll see three high-volume days to the downside. I think that this past Friday’s was the first. Of course shorts going in today risk a huge covering squeeze too. I think that there is some fundamental support for gold going down given China’s economic news last night. Copper got killed too.</p>
<p>I hate gold. I hate silver. Investments should create value. Gold and silver are stores of value. They are speculations. (I know people can make money speculating. I have speculated myself). Options can give a trader better odds. Lol</p>
<p>Gold prices are very close to where I shorted gold. I used Dzz though. A terrible product over a period of time. I should have known better. Lol</p>
<p>I like Bill Gross, but he has made some horrible calls including gold.
Paulson… What is there to say?</p>
<p>Sprint has two takeover bids. Cool. My daughter is long sprint. I wish the puts had some premium.</p>
<p>Oh… That 1929 article is really weak. The stock market got crushed after the 1929 crash. The losses were bigger than those in 1929. And to cherry pick stocks in hindsight…lol</p>
<p>TNA is getting killed!</p>
<p>Yeah… Good sale… </p>
<p>Tna is a risky product. You actually don’t have that much risk in your portfolio so you can own some tna. But I wasn’t bs… I traded a lot of tna…</p>
<p>You also had a great buy. You caught the sweet spot. That is not easy either.
You did a great job. Congrats…</p>
<p>In luck vs skill, I’ll take luck any day of the week.</p>
<p>Luck is really important. Skill is good too. </p>
<p>You did a great job.</p>
<p>I like the way you take losses too. Taking losses is very difficult. You let your winners run and you cut your losses short. Most traders do the opposite. Then they are no longer traders. Lol</p>
<p>As a goldbug, I’ve been through several days like Friday and Today in the precious metals and precious metals miners and I’ve learned to take stops. You never want to take a loss but you have to have some kind of controls on your trading or else you feel miserable for a while - sometimes months. I think that every trader goes through that and you either put controls in place or you wind up miserable for a long time.</p>
<p>BTW, I just stopped out of PSEC at one or two cents per share above breakeven. I dumped a quantity of shares roughly 15% of Average Daily Volume. I have a lot of fat dividends including one coming this month so I’m happy with that but I wasn’t going to take a loss on these shares. They may bounce back but they won’t without me.</p>
<p>Average daily volume is 3 million shares. Do you mean you sold 15 percent of the volume at the time of the sale?</p>
<p>What was the difference between your best sale price and your worst on today’s sale? </p>
<p>Stock looks terrible…</p>
<p>One of my trading buddies just went long IWM. I’m tempted to follow. I have a number of stocks that I’d like to buy - actually they haven’t really given much back in this downturn.</p>
<p>^^I don’t know about that. Its broken its 50 day mvg but inital support is around 90. I rolled out my 4/20 93 IWM puts into another stock. The fact that IWM is breaking down so much is a bad harbinger for the market.</p>
<p>He put up a multi-fork chart with his rationale and it appears that there’s a bounce at one of his fork-lines. I’d guess that he’s playing for a bounce back to 92.25 and that he has a stop a bit below the supporting fork line. This guy is a day-trader and he usually knows what he is doing.</p>
<p>Well as a day trade, I can see lots of things bouncing back up tomorrow after a day like today - particularly in iwm which is down more than the other indices.</p>
<p>Sold a aapl 4/26 370 put for 1.30</p>
<p>That’s after earnings. </p>
<p>I feel naked. I am not short any goog or aapl puts. </p>
<p>I sold some nke may 52.5 puts today. </p>
<p>If tsla holds up this week, I am going to have to do something to increase my risk… Lol</p>
<p>That’ right - 3 days after. I was trying to figure out how to buy iwm calls but I got distracted and its up from when I was looking</p>
<p>I guess its a good thing I didn’t buy those iwm calls yet</p>
<p>I wonder if the boston bombing caused it to dip down again</p>