You forgot the part where it's 3x leveraged, i.e. banks as a whole/the groupings that FAZ mirrors goes up by 2%, FAZ goes down 6% :p

And don't forget the quick decay over time. Lost more than 80% from FAZ due to my lack of experience and greed of this ETF.
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Any of the leveraged ETFs are never meant to be held for a "long time", they're for day trades, maybe holds for overnight/a day or two at most.

tomorrow will be a fun day ..

^every day is a fun day in this market
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Looks like im taking a small loss tomorrow

did someone bash me for short term financial trade. (ahem 4444).
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So true.. lol

lime,

I don't want to get into this, but this is a forum for people to express opinion and share their experience or give advice. What you are doing seems to be bashing on "4444". What are you a cyber bully? ahahah. just stop.

edit: highfive gone mia for a while

^3klipze, if you've been following the thread, lime was actually the first victim to 4444's initial cyber-bullying (and multiple other members). Nonetheless, it seems to be quite a cyberbully move to call someone else a cyber-bully imo.

but he picked on me first mrs fawcet!!!!! honest!!!


hahahah.. yah just read the past posts...

have i wrong opinions or forecasts? of course.... but anyways :fuckthatshit:

All bashing/bullying should be banned from this thread...bashing/bullying just discourage people from posting up their trades/ideas. I come into this thread to see what people invest in and see if I can learn/pick up any tips. If people stop posting b/c of bullying/bashing it defeats the whole purpose of this thread.

unlike other forums, the market will always determine who's right in the end. lol.

Good jobs rally inc
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cuu jump to 1.48 now sitting at 1.33

Question about the dollar value right now (USD vs CAD). I always hear lots of news about how the US govt is continuously printing paper money, shouldn't that be de-valuing their currency? Why is it that over the past week, the Canadian dollar slipped so far below the american dollar (0.94 to 1)? Is it because the CAD is being printed lots as well? What other factors go into it that I'm not considering?

Commodities

When in recession there is less demand for commodities. Since Canada is a large resource based economy there will be less demand from the private sector to buy loonies. Just a very simple take of course. In turbulent time like we are in right now everybody wants to protect their capital. And you get safety by buying U.S. treasury bonds. So lots of capital inflow to the U.S. and out of other riskier assets like the Canadian loonie.

To add to that, the volatitily of the stock market and gold has made the US greenback more attractive. As more people move into the apparent stability of US dollars it's value increases.

Back in the red today. Wish I bought some FAZ yesterday (up over 6% this morning) haha

more people all over are getting out of stock market/investments and holding $. thats why, plust they see US as more stable compaired to EURO. so holding USD. so USD is rising agains all currency and not just CAD

Since you're asking, I'll stop lurking and post something. haha..

My best trade for the past month is paying $1750 for laser eye surgery. Traded my glasses away. lol. I got prk, my vision has been blurry for a few weeks. Going on the computer is even worse. I had to zoom in on so many things I was reading. Plus the longer I stay on the computer, the blurrier it gets so I've been lurking RS on my phone instead. I think gdoh? you're getting laser eye surgery soon? Make sure you don't need to get back to a computer so quickly.

Whoever got into FAZ was a good trade.

SiRV - Whenever there's uncertainty and fear, ppl go to the safest asset class to hide. That's the USD or the treasuries. Even with all the debt US currently has, US is like your deadbeat dad. You have to go to him in the family no matter how deadbeat he is...lol I find it hilarious when ppl on TV were bitching in August about US is increasing their debt ceiling..downgrade of US credit saying USD is going lower...to September when USD is the place to hide.

Lime - you play options right? I personally don't touch it but I was thinking the other day when Buffett was talking about how BAC is a stock that's going to do well in a few years. That made me think if I should buy like say DEC 12 out of the money calls at around say $10? betting that by next year, BAC should have bottomed at todays level and rise to closer to their book value.

Any of you guys invested in Gold Bullion Development (GBB.V)?

It's apparently a multi-million ounce open pit gold deposit, just waiting for the 43-101 though. It looks pretty lucrative at the current prices (as do a lot of the stocks atm).

They even put their drills on a 3d model-box, it's pretty cool haha.
3D model of Gold Bullion Development Corp's Granada Mine - LONG Bars Zone

hmm maybe not! flat day, just sold FAZ for 8% profit, all cash going into weekend

edit: careful highfive, 90% of options expire worthless, they are manipulated to max pain on strike dates. u have to be in & out of calls

That's hindsight speaking...got to throw that mentality away. You could have gotten it cheaper at the open today, if you bought yesterday at 60, you would have to set a stop loss under 57 in order for u to profit today..that means you're setting a 5% loss for a daytrade position and that's huge.

Just my 2cents :)
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that's the thing here, you TELL people what to do as if you're some secret messiah of finance.

you're short term financials bet stank, like most of your other 'opinions'

i have to say, my long term view has done amazingly well this last week, WAY out performing the averages, but who cares, i'm not realizing gains or losses, as i don't need to nor do i want to as in my view my long term story has not changed, i have industry leaders that are well run, and well valued in sectors that will continue to do well. the only people of any value here are the people in a certain industry who have an 'inside' view and truly understand how tihngs work - that's not inside info (as that is unethical and can get them in a lot of trouble). having said that, most people here don't seem to be longer term investors, but given that i have a career, i don't have the time to be on the internets all day buying/selling, checking small moves here and there, so the quick trades are way to risky for me, in case i'm in meetings when markets close and i need to trade

everyone has an opinion, but yours appear mostly wrong (you can say 100 things, and have a chance that 50% are correct, not sure you're even batting 500 here), whereas others lay out a valid argument pro/con a position, more as an FYI and with reason, whcih is appreciated, your arrogance is painful to read

i'll say it again, don't you work in a restaurant? i'm not saying you have to be some high flier finance person to be a good trader, but unless you're a restauranter, owner, developer, i just ppl should know so as to discount your personally expressed 'expertise'