Wednesday, November 26, 2008

The Sleepy Turkey Rally ~ ProShares Ultra Technology (ETF)(Public, NYSE:ROM)



the "O" bottom holding strong!

... move stops up.

18 comments:

BUY ON THE DIP said...

FYI

we are up

ROM 28.37%

DIG 34.42%

SSO 30.52%

stops in place. we win.

Big Mike said...

Hey i saw your last post

where is going to be your biggest short?

faz? eev? im going to get ready for this one

BUY ON THE DIP said...

if we can get SRS in the low 100's,

we'll load up the short bus.


spec breakout trade in $V

BUY ON THE DIP said...

don't fight the rally.

its one of those "we shouldn't go higher, but we are" rallies.

nibble at the short plays, dont jump all in.... we'll get them all cheaper next week.

BUY ON THE DIP said...

DONE!

NEW SHORT: *$FRO spec puts* earnings FRIDAY. DEC 25.000 PUT(FROXE)

...hat tip StockHustler.

sara said...

i should of got fas

for a fast trade

BUY ON THE DIP said...

as promised.

The Rally. hmmmm... $SSO, $DIG, $ROM

BUY ON THE DIP said...

looking to sell 1/2 at the buzzer ... $SSO up 36.61% , $ROM up 33.31%, $DIG up 44.35% since our "O" bottom buys last friday. cheers!

BUY ON THE DIP said...

sold 1/2 long basket at the buzzer. go team. $SSO, $DIG, $ROM.

Goog said...

Well DOne!!!

Mattyrye said...

I'm just one lonely passenger, patiently waiting for the driver of the short bus to fire up the engine...

ericm said...

Happy Thanksgiving BOTD! I made great gains yesterday (4%) by following you on your bull basket - ROM/SSO. However, how did YOU make money whilst you were simultaneously invested in your short plays (EEV/etc)..? I'm confused! Thanks again!

jd said...

BOTD. O bottom will not hold forever. Beware.

UNLESS, inflation train becomes officially rolling. Then there's a chance. Even if the inflation train rolls, companies will still have bad results, sending a lot of stocks downward , so what I'm saying is there's still a lot of down-side potential!

DOW 6000 possible.

BUY ON THE DIP said...

Eric,

we were NET long. our gains in SSO, ROM, DIG, recent wins in FAS and BGU outweigh the big losses in the 4 amigos, srs, eev, etc. this rally looks like 8800, 9200, then 9600?

JD, agreed. this rally is to be shorted.

p.s.

as "BOTD commented above" ....

don't fight the rally.

its one of those "we shouldn't go higher, but we are" rallies.

nibble at the short plays, dont jump all in.... we'll get them all cheaper next week.

p.p.s. Happy Thanksgiving all.

stockhustler said...

Frontline Plunges After Missing Analyst Estimates for Profit
Email | Print | A A A

By Alaric Nightingale

Nov. 28 (Bloomberg) -- Frontline Ltd., the world’s biggest owner of supertankers, fell in Oslo trading after missing analyst estimates for third-quarter profit because it failed to lock-in rental rates before the market plunged.

The shares fell as much as 21 kroner, or 9.4 percent, to 202 kroner, the biggest intraday decline in a week. Frontline traded down 6.8 percent at 207.75 kroner as of 9:36 a.m. in Oslo, valuing the company at 16.2 billion kroner ($2.4 billion). The stock has dropped 20 percent this year.

stockhustler said...

Just so you all know-

This little rally on light volume has been great. Dont forget to take into consideration that it was the end of the month window dressing, holiday trading, and we were extremly oversold. Perfect set up for a little rally

I would be taking all long profits today. Do not believe the bullishness hype.

The downward pressure will be back next week and we will erase all of the gains from this week.

You have been warned.

p.s I hope you shorted FRO-I know BOTD did....well done.

BUY ON THE DIP said...

hmmm... $FRO 28.99-4.02 (-12.18%) ... holding *DEC puts* , and it's not really working.

patience for profits.

Adam said...

CHK- BUY THE DIP