Comments on: Where is RJ?

By: Yngvai

Yngvai — Fri, 17 Apr 2009 03:38:09 +0000

Yeah, RJ, I would agree with SJ. If you look at SAH’s chart it’s formed a double bottom at $1 and it’s looking bullish. There’s a good chance it may never find its way back below $1 (or even back near it), and if it does, it might be a very long time.

By: sJ

sJ — Fri, 17 Apr 2009 01:04:47 +0000

SAH is 3$ now…u might have to wait a long time to get even with it…SAH is breaking through critical resistance…be careful and plan an exist strategy…

anyway good to know u stopped playing FAS/FAZ…and other crazy 3x ETFs…

good luck trading…

By: RJ

RJ — Thu, 16 Apr 2009 21:57:46 +0000

sJ,

Let’s just say that I am an idiot for not using stop loss. This is going to be my first rule as soon as I get out of this mess and start trading again.

By: sJ

sJ — Wed, 15 Apr 2009 23:19:56 +0000

Why dont you use stop loss still beats me….

By: RJ

RJ — Wed, 15 Apr 2009 22:34:14 +0000

Yng,

At this point, I am not looking to make money on my SAH trade. I want it to come down so that I can get out with minimal loss. The biggest problem is that I may not be able to short SAH when it starts breaking down again.

Charlie,

Thanks for your comment. I don’t know where Torello is. He was very good at trading and I learned a good amount from him. I will leave comment on his blog and see if he plans to return.

By: Charlie G.

Charlie G. — Wed, 15 Apr 2009 15:46:03 +0000

Glad to see you back. I have not advice on your positions as I barely make profits still on my paper/practice trading!

Hey, any idea where IL Torello is?

By: Yngvai

Yngvai — Wed, 15 Apr 2009 00:01:51 +0000

Hey, RJ,

Like you, I stopped trading the ETFs and have done much better.

Holding your current SAH short position is very risky. If you look at SAH’s 52-week chart, it’s found a pretty solid bottom at $1. I doubt it will make its way back to $1 any time soon.