oleg850's Account Talk

[oleg850]

Oleg,

Is it wise to do 1/3 or what? Also, AH market - is it better to wait at the end?

I have a policy of never allocating more than 20% of total account capital to any one particular strategy.

 

[oleg850]

I took partial profits on my XIV position for a gain of 15%.

 

[k0nkuzh0n]

I took partial profits on my XIV position for a gain of 15%.

Wait what?!? What changed? We certainly didn't come close to $29

I'm personally not taking partial profits as this is an intermediate term hold trade. I'm looking at $29 and beyond as an exit, which is why I'm willing to be patient and let time do the work for me.

 

[oleg850]

I took partial profits on my XIV position for a gain of 15%.

Wait what?!? What changed? We certainly didn't come close to $29

I'm personally not taking partial profits as this is an intermediate term hold trade. I'm looking at $29 and beyond as an exit, which is why I'm willing to be patient and let time do the work for me.

Huge price surges in short amounts of time (i.e. 15% in 2 days) have a tendency to be followed by modest profit taking. I didn't expect for price to rally as fast as it did, plus I am currently overwhelmingly long through a variety of strategies at the moment. I took a healthy amount of partial profits this week and will use that capital to buy any dips next week (which happens to be OPEX). I am still holding 50% of my original position for a target of $29.

 

[GEW]

Huge price surges in short amounts of time (i.e. 15% in 2 days) have a tendency to be followed by modest profit taking. I didn't expect for price to rally as fast as it did, plus I am currently overwhelmingly long through a variety of strategies at the moment. I took a healthy amount of partial profits this week and will use that capital to buy any dips next week (which happens to be OPEX). I am still holding 50% of my original position for a target of $29.

OPEX is not coming up for a search in symbols. Is this correct spelling, Oleg?

 

[law87]

OPEX is not coming up for a search in symbols. Is this correct spelling, Oleg?

Opex is not a stock..it's option expiration

 

[GEW]

Opex is not a stock..it's option expiration

I don't do options, so that explains that!

 

[oleg850]

I took partial profits on my XIV position for a gain of 15%.

Wait what?!? What changed? We certainly didn't come close to $29

I'm personally not taking partial profits as this is an intermediate term hold trade. I'm looking at $29 and beyond as an exit, which is why I'm willing to be patient and let time do the work for me.

Huge price surges in short amounts of time (i.e. 15% in 2 days) have a tendency to be followed by modest profit taking. I didn't expect for price to rally as fast as it did, plus I am currently overwhelmingly long through a variety of strategies at the moment. I took a healthy amount of partial profits this week and will use that capital to buy any dips next week (which happens to be OPEX). I am still holding 50% of my original position for a target of $29.

Bought back the 50% XIV I sold Friday at $25.19. I've noticed that it's hard for equities to sell off, no matter how big the reason, when the bond market is closed.

 

[oleg850]

I unloaded the 50% lot of NUGT I bought at $40 for $42 to mitigate some of the drawdown for the overall trade. Will buy back around $38 if we make it there this week. Holding remaining half for $50 price target. If we get stuck in a $5 trading range for the near term, I will repeat this strategy to get back into the green. Will maintain a 50% position at all times, however.

 

[tctang75]

My Russian double agent amigo cracked the case - Magpul.

 

[oleg850]

System Update:

Although my indicator system is designed to issue signals only after the close of each day, I wanted to let everyone know that it is getting pretty close to closing out this long position (initiated 10/08) and going to cash, and possibly even going short (which is a rare occurrence during a sustained bull market due to its programming). This is just a heads up as today will likely dictate the direction of this trade going forward. As of this writing, TNA for this trade is up around 10% (3X leverage) and SSO is up roughly 6% (2X leverage). With this being OPEX week and the market being tossed around by media headlines regarding our impending default, it may be a prudent strategy to take some partial profits to protect some of these great gains. Ultimately, it's an individual choice, but I figured I would give an update before the market open to allow for such decision making.

The trending system has a wide stop this trade so unless all goes to hell, those shouldn't be breached: $103 for IWM, $164.50 for SPY.

And congratulations to "TCTANG" for figuring out my avatar! Good to know I'm not the only one on here that's a fan of the 2nd amendment!

 

[oleg850]

Trades update:

Just sold my XIV position at $28.30 from $22.98 entry for a 23% profit (mine was actually closer to 30% since I traded around the position a couple times). Also closed out the remainder of my NUGT trade at $45.05 for an overall profit of 5% (trading around that position and cost averaging helped there). Will pick up a partial NUGT position at $38 if we make it down there in the next few days. I continue to hold my CEF for long term (non-leveraged) bullish gold exposure. The market gods have been kind to my accounts these past couple months!

Both my systems remain on buys (long) at least through COB today, and I am maintaining exposure via TNA and UPRO.

 

[Luke]

Oleg, for those of us that dabbled in NUGT around the $46 range and didn't average down during the trade, do you see any more upside towards $50+?

 

[oleg850]

Oleg, for those of us that dabbled in NUGT around the $46 range and didn't average down during the trade, do you see any more upside towards $50+?

I suppose it could get there or even higher but if I was confident in that, I wouldn't have closed out my position. NUGT is a dangerous vehicle to hold due to its severe bleed - that's why I prefer quick trades using small position sizes and cost averaging on my buy ins.

 

[GEW]

Trades update:

Just sold my XIV position at $28.30 from $22.98 entry for a 23% profit (mine was actually closer to 30% since I traded around the position a couple times). Also closed out the remainder of my NUGT trade at $45.05 for an overall profit of 5% (trading around that position and cost averaging helped there). Will pick up a partial NUGT position at $38 if we make it down there in the next few days. I continue to hold my CEF for long term (non-leveraged) bullish gold exposure. The market gods have been kind to my accounts these past couple months!

Both my systems remain on buys (long) at least through COB today, and I am maintaining exposure via TNA and UPRO.

Are you still planning for XIV for a hold to the Santa rally or is this plan out of the horizon since you sold it?

 

[oleg850]

All depends on how price behaves in the coming weeks. My price goals for this trade were met much faster than I anticipated when I initiated the position. I would be a fool not to pocket a 30% profit in a week's time. If the opportunity presents itself in the coming weeks, I will take it. For now, I'm relishing in the monetary gifts Mr. Market dropped in my lap!

 

[Luke]

Sold NUGT @ $45.75 for a very small loss. Just goes to show you Oleg's advice on averaging down is well worth adhering to.

 

[Stoplight]

Sold NUGT @ $45.75 for a very small loss. Just goes to show you Oleg's advice on averaging down is well worth adhering to.

Luke,

You're right on, there ! I need to get smarter on those ups and downs.

Set a limit on my NUGT to break even if it kept heading up...triggered the sell for a whopping $8.25 realized gain Considering I was down > $2K at one point, I'm happy with that...better luck next time !

Between the NUGT and XIV trades, made a 7% gain on my small investment...Thanks, Oleg !!!

Stoplight...

 

[manbolt]

Luke,

You're right on, there ! I need to get smarter on those ups and downs.

Set a limit on my NUGT to break even if it kept heading up...triggered the sell for a whopping $8.25 realized gain Considering I was down > $2K at one point, I'm happy with that...better luck next time !

Between the NUGT and XIV trades, made a 7% gain on my small investment...Thanks, Oleg !!!

Stoplight...

I can surely attest to that. Just closed out my NUGT for a very sizeable loss. Happy to get rid of it and move on. Another hard lesson learned.... Thanks for the advice, Oleg.

 

[not_too_shabby]

For now, I'm relishing in the monetary gifts Mr. Market dropped in my lap!

Mr. Market been berry, berry good to me!