FAS / FAZ / Daily Discussions / Archives / 11-04-2011 / Friday, May 6 2011

Topie: Friday, May 6 2011
May 6th, 2011 08:50 AM
ISA_Coder holy precious metals batman!
AGQ cut in half and ZSL nearly doubled in the last 5 days.
I had a batch of ZSL and sold yesterday, and of course in hind sight, sold too early.

Can't keep going down forever. i'll probably day trade ZSL today for at least a few percent but it's hard NOT to get greedy with these bad boys lately.

How low can it go? and then how high will the bounce be? All the articles I keep reading say that silver, in the long run, will always go back up, looks like a great long opportunity
May 6th, 2011 11:21 AM
ISA_Coder got busy at work and didn't trade anything yet today, looks like a bull day for AGQ/ZSL but hard to determine any direction for the rest of the day, could go either way. I'm just going to try to do a scalp or 2 if i have time.
May 6th, 2011 11:33 AM
BullDog citi to reverse split, after mkt close tonight. Lets see what that does to citi. Should make the stock more attractive to institutions and less so to penny wholesalers.

Picked another 1 % move from MO trade.
I am holding FAS I picked up during the recent downturn to 31
Happy trading folks.

Silver too risky, at least I cannot guess direction.
May 6th, 2011 01:11 PM
ISA_Coder just scalped AGQ, in at 188.00, out at 189.94, got just about 1%, total hold time about 4.5 minutes
May 6th, 2011 01:30 PM
shazee ISA,
Are you using Scottrade ellite or regular Scottrader for AGQ? or maybe none?
May 6th, 2011 01:41 PM
ISA_Coder when i'm at work, i use neither, unfortunately.
i stream the quotes during the day using CNBC in 2 separate minimized window for which ever ETF pair i'm watching.

something i think i'm gonna start doing tho is use the logmein website and run all this stuff from my home machine so i can have scottrader up and running on there and not have to have it minimized on my company computer.
May 6th, 2011 01:42 PM
andy0323 Held ZSL overnight but got burned. Oh well... live and learn.
Made up for it with AGQ @ 190 and out at 195-ish.

I've been reading a lot about candlesticks and dojis lately. I think I'll play with oil until silver is ready for another bull run.
May 6th, 2011 02:00 PM
shazee Andy,
Good to hear from you. I thought you left the town. Andy, I have been watching AGQ on 1 min chart on simple basic Scottrade.

Using BB ( defult), RSI ( defult), Fast STO ( defult). I kept Fast and RSI but Keep switching to MACD and Money flow and Chalklin volt. everytime hit the lower BB, if money flowing which is correlated with MACD positive and as well volume showing green, it goes up close to upper BB. Otherwise is a fake candelsticks/sell.

I like to do a couple paper trades to see if this works.

I hear you. JPM shorting silver.

May 6th, 2011 04:47 PM
ISA_Coder total range today for AGQ/ZSL was around 11%, i like !
May 6th, 2011 05:02 PM
shazee Isa,
Sorry I didn't see that you responded to my question. Your message did not show earlier. I am not sure that if I can successfully trade AGQ. My papertrade aftet 2 pm has not been working well in past 3-4 days. I am glad you have been able to make money on AGQ.
May 6th, 2011 07:11 PM
membar Stupid Internet went down and I had to buy back the FKOS I got stopped out of after hours. Made money on FAZ and ZSL today.