bmneveu's Account Talk

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Road tripping with the wife so I don't have any charts to post, but I imagine we've created somewhat of a (bearish I believe?) flat top on the S&P and R2K.
 
I'm still holding my TZA shares even though J's system sold them. I figured we were going down eventually...hopefully his system goes back to a short and I can continue holding them for more profit. :)
 
I still own TZA as well and now that it's above 9.50 I'm considering cutting my losses. But I'm sure the market will tank as soon as I sell :notrust:
 
My DCA on my shares is 9.43 so I'm actually positive now. I'm going to watch it and see how things play out today. Maybe I should even setup a stop since lately the market goes down and then climbs back up before the end of the day. I want to make sure I get something positive out of this trade before I go in the hole again.
 
I'm thinking about going 50F 50I today...

MaStA said:
My DCA on my shares is 9.43 so I'm actually positive now. I'm going to watch it and see how things play out today. Maybe I should even setup a stop since lately the market goes down and then climbs back up before the end of the day. I want to make sure I get something positive out of this trade before I go in the hole again.
Click to expand...

My guess - expect some retracement midday but end the day largely lower.
 
MaStA said:
My DCA on my shares is 9.43 so I'm actually positive now. I'm going to watch it and see how things play out today. Maybe I should even setup a stop since lately the market goes down and then climbs back up before the end of the day. I want to make sure I get something positive out of this trade before I go in the hole again.
Click to expand...

Also, careful with stops today as I believe TZA and TNA are splitting shares today? TZA is 1:4 I believe. Don't know if that will affect anything. Probably not actually now that I think about it. TZA's share price should quadruple at the close, so your stop will pretty much be obsolete at that time. Lol
 
bmneveu said:
Also, careful with stops today as I believe TZA and TNA are splitting shares today? TZA is 1:4 I believe. Don't know if that will affect anything. Probably not actually now that I think about it. TZA's share price should quadruple at the close, so your stop will pretty much be obsolete at that time. Lol
Click to expand...

Where did you find out that is going to happen? I need to start paying attention to this stuff, but I'm not sure where to get that info. Thanks for the heads up!
 
MaStA said:
Where did you find out that is going to happen? I need to start paying attention to this stuff, but I'm not sure where to get that info. Thanks for the heads up!
Click to expand...

I just googled it real quick and found this:
Direxion Announces Reverse and Forward Share Splits of 16 ETFs (3/15/2013) | Direxion

But I believe originally I was looking at charts in Optionshouse and saw the news headline, probably around March 15th or 16th when they announced it.

Edit: looks like 4:1 on TZA and 1:2 on TNA
 
bmneveu said:
I just googled it real quick and found this:
Direxion Announces Reverse and Forward Share Splits of 16 ETFs (3/15/2013) | Direxion

But I believe originally I was looking at charts in Optionshouse and saw the news headline, probably around March 15th or 16th when they announced it.

Edit: looks like 4:1 on TZA and 1:2 on TNA
Click to expand...

1-for-4 reverse split on TZA...so one share is turning into four shares or four shares are turning into one share? It's one thing to have a ratio, but then to say reverse split makes me confused lol.
 
4 shares turn into 1. My understanding is that any excess shares (the remainder after dividing by 4) are sold ...?
 
MaStA said:
1-for-4 reverse split on TZA...so one share is turning into four shares or four shares are turning into one share? It's one thing to have a ratio, but then to say reverse split makes me confused lol.
Click to expand...

I agree the wording is confusing. I think what they are trying to do here is consolidate all their funds to a similar price. So it would make sense to quadruple TZA up to the $40 range and then half TNA down to there as well.

If you "split" a share, you cut the price in half to make 2 shares. If you reverse split, you are doubling the price and consolidating shares. The ratios do appear to be backwards to me though...
 
bmneveu said:
I agree the wording is confusing. I think what they are trying to do here is consolidate all their funds to a similar price. So it would make sense to quadruple TZA up to the $40 range and then half TNA down to there as well.

If you "split" a share, you cut the price in half to make 2 shares. If you reverse split, you are doubling the price and consolidating shares. The ratios do appear to be backwards to me though...
Click to expand...

Understood. Thanks man!
 
MaStA said:
Going for the gold? :D
Click to expand...

I might have grabbed F a month too early based on seasonality, but it should turn out well if the US markets are topped out and trend lower from here.

The "I" play could just be for a short term bounce if it scores big quickly, but I think there is more potential there mid-term than C or S.
 
bmneveu said:
I might have grabbed F a month too early based on seasonality, but it should turn out well if the US markets are topped out and trend lower from here.

The "I" play could just be for a short term bounce if it scores big quickly, but I think there is more potential there mid-term than C or S.
Click to expand...

I'm still holding the F fund in my TSP. I'm looking for a jump into the S fund, but I think we are poised for a pullback. We will see how the job numbers are this week.
 
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