Thanks! I started to get a little worried when SC had 5 straight 3 & outs in the 4th quarter (and weren’t using up much clock in the process, but the defense stepped up in the end.

It’s always nice to put a 5 unit play in the books (especially when it’s your “Pick of the Month”)…

Re: SLV & USD

All I’m basically saying is the two tend to trade in opposite directions of each other…

The largest trendline in the dollar (which began in March) is still fairly far from being broken… So I’d say there is a possibility for a dollar rally to even extend for a couple of days before meeting that resistance and making a statement…

Of course with silver it’s the other way… Silver appeared to “break out”, but is now pulling back (which helps ZSL)… But people who are “holding” ZSL need to understand they’re holding a “2x” etf… That means, they pay well at the onset, but then tend to have a diminishing rate of return… They’re truly for ‘quick hits’ (not investments)…

“Thinking is the hardest work there is, which is probably the reason so few engage in it.”
— Henry Ford

Nice call on SC…they looked good…

Hear about that shit with the KU football and basketball teams getting in fights with each other?
Kansas….pfft….
I’ll say no more.

That is why I want to take it nice and easy at first, there is a lot to learn. Just an FYI, I am on the west coast, so I priced it out and set it to buy on market open, by the time I actually made the buy it had climb about 12 cents in price, then made the pull back, learned a lesson there too.

We are not talking beer money, but by no means is this big bucks either, I know a lot of you people might think it is crazy that I take an active intrest now instead of when the market stablizes. But I think the crazier thing to do is park my money in a 401k or mutual fund.

Again thank you very much for your input.

Be sure to use stops when messing around with the leveraged ETFs. They can get away from you quicker than you think.

“I’m watching SLV…(a lot of room to go there, AND, on the dollar without even breaking the intermediate trend)…”

I am assuming you ment more room go (down) can you explain what you are looking at, I believe Silver is going down and two weeks made my very first stock pick in ZSL – it was not very much (Cashed out one of the kids college fund…… Heck he wanted to work at McDonalds till he was 72 anyway – Just Kidding) But figured if I don’t get my feet wet, I won’t learn how to swim, one baby step at a time though.

Anyway after buying it I have watch the price go lower and lower, but I believe silver was selling at too high of a price and figured it would eventually come down, well ZSL is almost at the l bought in and am just currious what you are seeing and to test if my own line of reasoning.

I was going to wait for a 4% pull back and jump all in for the next 20% wave, but heck I don’t want to take the easy money.

Thanks

BTW if you get this and respond to it, I am heading out for a couple hours but will read it when I get back.

Chart of XLF weekly: http://tinyurl.com/y99dldu