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oleg850's Account Talk
- Thread starter oleg850
- Start date
weatherweenie
Well-known member
weatherweenie
Well-known member
Analysis. I did join you around $32 in the chance that $30 holds. I'll buy more in the mid-upper 20s if we get there.
voirdire1st
Member
Do you both expect a rebound anytime soon on this?
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Sent from my iPhone using Tapatalk
oleg850
Active member
Sold TSLA at $265 from $250 entry for 6% gain.
voirdire1st
Member
Think we are getting near the bottom?
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Sent from my iPhone using Tapatalk
oleg850
Active member
If you are this concerned, you are overexposed. I don't have a crystal ball. The odds of a strong rebound after a one month 40% price decline are good, and the only way I've made money in the market is by playing favorable odds. There are no guarantees in this game. NUGT could drop to $1 and your position could become worthless. You have to be comfortable with that scenario, no matter how unlikely the outcome.
weatherweenie
Well-known member
Here we are, unfortunately.If you liked it at $32.... It looks like we're heading into the mid 20s.
Certainly admire your perseverance to your system. Being long on gold at this time is definitely not for me.
I appreciate your posting these trades. Best of luck!
oleg850
Active member
No shame in that. Everyone has different pain tolerance. I am currently down 35% on my net NUGT position, but being as it only makes up 10% of my total portfolio, I am really only down 3.5% in my account due to that trade. I think what most people don't realize is that the value of gold remains intact, it is the extreme run the dollar has had in the last 3 months that is causing the price declines, not only in gold but in other commodities as well (oil, gas). The dollar is hitting multi-year resistance today and is due for a pullback or at least a period of consolidation. Once the greenback rally lets up, the downward pressure on the metals will go away, and up up we go! I keep getting asked how I can keep my cool in light of a 60% price decline in NUGT over the last 2 months. My answer: responsible position sizing.
Stoplight
Active member
More good common sense advice ! I particularly like when you explain WHY you make the moves you do !
Anyway...although I said I wouldn't, I, too, bought another lot of NUGT at 21.01 today. Like you, I'm down ~ 35% net on the overall trades, but my "exposure", based on my overall portfolio, is only < 5%, so I'm comfortable with that.
Thanks for your posts !!!
Stoplight...
oleg850
Active member
Sold at $23.01 for 4.4 profit%. Weeeeee. Sure looks like a bottom to me!
