At the highs today my SOXS +37% and TECS +18%, sold some and over previous days added to FAX under $2.63.
It would appear that you are trading the range set by the 1/31 and 2/21 peaks, and on the low end, a point reached several times over the last 3 months 17% below that level (in the case of the tech sector triple leveraged.
Those would be well timed trades taking advantage of price volatility and general direction of the market over the last 3 months in particular. It would have been hard to match that performance for the quarters preceding this one.
I mentioned here that I would be wrong if we hit new highs, which we did. By that point I had minimal exposure to leveraged shorts, at certain points none. I also wrote that the EM Bond CEFs would track lower interest rates and a falling Dollar, and with higher exposure, and 14.34% yield (my cost) cover losses on shorts. My view remains very negative on the domestic market. Therefore, above 5,200 and AI craze (NVDA up whatever) I got increasingly aggressive.
At the highs today my SOXS +37% and TECS +18%, sold some and over previous days added to FAX under $2.63.
How can you be up on either of those? Unless I am reading something wrongly they are both down about 99% since a few years ago. How can you be up?
Look at the 3 month chart. Taking TECS as an example, he bought with an average price of about $7.50 and yes, it was trading that low in March of this year. Now it is trading at $9.13, for a 21% increase from that time.
So, yes, what he said is entirely possible.
One can shoot holes in this in terms of a strategy, but taken for what it is- short term momentum trading, he picked his entry and exit to yield a solid profit.
Outside of what he disclosed, one might ask how many trades in the last year or two have gone the other direction (losers).
How can you be up on either of those? Unless I am reading something wrongly they are both down about 99% since a few years ago. How can you be up?
Look at the 3 month chart. Taking TECS as an example, he bought with an average price of about $7.50 and yes, it was trading that low in March of this year. Now it is trading at $9.13, for a 21% increase from that time.
So, yes, what he said is entirely possible.
One can shoot holes in this in terms of a strategy, but taken for what it is- short term momentum trading, he picked his entry and exit to yield a solid profit.
Outside of what he disclosed, one might ask how many trades in the last year or two have gone the other direction (losers).
When did he buy the SOXS because that is down 33% YTD.
Look at the 3 month chart. Taking TECS as an example, he bought with an average price of about $7.50 and yes, it was trading that low in March of this year. Now it is trading at $9.13, for a 21% increase from that time.
So, yes, what he said is entirely possible.
One can shoot holes in this in terms of a strategy, but taken for what it is- short term momentum trading, he picked his entry and exit to yield a solid profit.
Outside of what he disclosed, one might ask how many trades in the last year or two have gone the other direction (losers).
When did he buy the SOXS because that is down 33% YTD.
Dude, I checked it out. It's solid. I don't want to drag up the numbers on that one, I already did the TECS.
Just look at his post where he said he bought it a few weeks earlier and was up like 10% already, then you can see it went up about almost another 20% from there. Believe me, it is possible, and if you still doubt it, I can pull the numbers.
When did he buy the SOXS because that is down 33% YTD.
Dude, I checked it out. It's solid. I don't want to drag up the numbers on that one, I already did the TECS.
Just look at his post where he said he bought it a few weeks earlier and was up like 10% already, then you can see it went up about almost another 20% from there. Believe me, it is possible, and if you still doubt it, I can pull the numbers.
He is telling us after the fact what he bought for and what he sold for. Both prices are like the lowest of the year. Did he ever tell us when he bought the shares or just after he sold them?
When did he buy the SOXS because that is down 33% YTD.
Dude, I checked it out. It's solid. I don't want to drag up the numbers on that one, I already did the TECS.
Just look at his post where he said he bought it a few weeks earlier and was up like 10% already, then you can see it went up about almost another 20% from there. Believe me, it is possible, and if you still doubt it, I can pull the numbers.
Thanks, Sally is being weird. That said, I admit this can blow up, and at times it has. Again, EM CEFs balance any risk, however.
Dude, I checked it out. It's solid. I don't want to drag up the numbers on that one, I already did the TECS.
Just look at his post where he said he bought it a few weeks earlier and was up like 10% already, then you can see it went up about almost another 20% from there. Believe me, it is possible, and if you still doubt it, I can pull the numbers.
He is telling us after the fact what he bought for and what he sold for. Both prices are like the lowest of the year. Did he ever tell us when he bought the shares or just after he sold them?
Reread what I wrote to Maserati? I would call it an exercise in reading comprehension. Of course balanced with ADD. :-)
Dude, I checked it out. It's solid. I don't want to drag up the numbers on that one, I already did the TECS.
Just look at his post where he said he bought it a few weeks earlier and was up like 10% already, then you can see it went up about almost another 20% from there. Believe me, it is possible, and if you still doubt it, I can pull the numbers.
He is telling us after the fact what he bought for and what he sold for. Both prices are like the lowest of the year. Did he ever tell us when he bought the shares or just after he sold them?
He told us when he was up a little bit, and that was the post to Maserati. Since then his stake would have gone up a fair amount to where it climbed to today.
In terms of when he bought, he did so at just about exactly the lowest point of the year, and it didn't stay down there long. It would appear that he bought the SOXS on about 3/7 to get that price. So, timed to perfection is what it appears to be in hindsight.
From 4/5: “Maserati, Good to hear from you. I found you to be one of the most interesting posters. I sold most of my Hussman HSGFX in early 2023 at a nice profit +10-20%; I maintain a 2.5% position that I am flat on. My largest positions are EM bond CEFs EMD up 26%, and FAX up 19%. I maintain smaller yet significant positions in leveraged shorts TECS up 2%, and SOXS up 10%. I have been in and out of the shorts, at an equivalent loss overall. Overall flat on the year, but willing to bet things get worse.”
On my records I bought quit a bit of SOXS 3/7 and 3/8 where I am up as much as 47% on one lot. TECS records show large purchase on 3/12 with one lot up 22%. If I recall, there was a constant barrage of AI stories, which to me, right or wrong, were over the top.
Looking at these same records, and comparing it to the post above my gains on EMD are down 19.22% and FAX down to 14.76%. The net result is I am still flat on the year.
I suppose most of you are still enjoying significant gains.
This post was edited 3 minutes after it was posted.
From 4/5: “Maserati, Good to hear from you. I found you to be one of the most interesting posters. I sold most of my Hussman HSGFX in early 2023 at a nice profit +10-20%; I maintain a 2.5% position that I am flat on. My largest positions are EM bond CEFs EMD up 26%, and FAX up 19%. I maintain smaller yet significant positions in leveraged shorts TECS up 2%, and SOXS up 10%. I have been in and out of the shorts, at an equivalent loss overall. Overall flat on the year, but willing to bet things get worse.”
On my records I bought quit a bit of SOXS 3/7 and 3/8 where I am up as much as 47% on one lot. TECS records show large purchase on 3/12 with one lot up 22%. If I recall, there was a constant barrage of AI stories, which to me, right or wrong, were over the top.
Looking at these same records, and comparing it to the post above my gains on EMD are down 19.22% and FAX down to 14.76%. The net result is I am still flat on the year.
I suppose most of you are still enjoying significant gains.
That's about what I guessed.
Overall, I'm doing well ytd. But these markets really have me scratching my head. Very tempted to do some selling today with this weakness in tech sector, but I am staying the course. It would seem that the markets are coming to grips that the much expected rate hikes are getting pushed off well into the future.
this was from a year ago in the wake of the awful 2022. It said the markets had turned up after that bad year. But I'm sure many stayed pessimistic. So hard to believe bad times are ending. SP500 +22% over past year.
Ryan Detrick, CMT @RyanDetrick The S&P 500 is about to be up >5% for two consecutive quarters. You just don't see this type of thing in bear markets. This has happened 23 other times since 1950 and a year later stocks were higher 20 of them (87.0%). The average return a year later was 13.5%. 9:50 AM · Mar 31, 2023 · 76.3K Views