ProShares UltraShort Financials ETF (SKF)

[kantbleveit]

Guess the ol SKF got tired of getting beaten into the ground,,,, up another $2 in after hours trading~ hmmmmm.....
kantbleveit

[thesource]

Man SKF has been getting hammered lately ...... This bullish run was a lot stronger than I expected it to be .

[pythagorahs]

time will tell.. we might open positive and sell off into the close.. todays gains were based on GGP properties releasign news mid afternoon.. tanked the markets. smart money got into SRS...

[Tutu]

I was we go higher tomorrow as banks go down

[19cougar73]

that was a nice swing in price today to bad I was not in

[Tutu]

tomorrow we go green again

[Tutu]

Sounds good

[GetMoneyLiveFast]

That is a nice thought but I see more fall out but that doesn't mean there wont' be great trading opportunities

[Tutu]

I agree a lot of people think its all over ans the market is going up I don't think so

[GetMoneyLiveFast]

I see last week as a bear trap, more down points next week. GLTA

[Tutu]

sounds good

[Tutu]

really

[pythagorahs]

are you serious? no sh&t.. this thing is a x2 inverse IYG.. buy UYG and you will be x2 bullish... this ETF is not meant for buy and hold.. well technically it is. but technically this thing doesnt trend and its a hedging vehicle of sorts.

[GetMoneyLiveFast]

I am buying a few large blocks near close for bounce next week

[Tutu]

Ok good I got in yesterday at 145

[BradL45]

and when the banks go down, so does the Market.

I've bought a block of SKF this AM.

[Tutu]

C is up to 1.81 in the premarket so we will be down again today this suck we need the market to go down

[Tutu]

Its simple when banks go up skf goes down

[Tutu]

Everyday the market go up we go down so we need the market to do down then we make money

[pythagorahs]

looks like we might touch 120 in the short term... anybody who bought puts in this thing when it was @ 250 made a good trade.

[pythagorahs]

what do we have here... looks like that commentary was spot on... skf down over 50$ today... anyone who shorted after the top formed, made off like a bandit today.

[pythagorahs]

HEllO everyone.. SKF has had a great run ... if anybody bought this and forgot about it.. you make a great trade... anyway i think this thing has topped out it really cant hold above 300, today it looked like it wanted to reach but it got sold off hard into the close. i think APRIL 09 OTM puts say 130 or 140 are looking pretty good.. they are cheap and thye have time value in them which will decay a small bit.. if this thing nosedives one day to around 180 or so.. those puts you bought will be tricky to price because technically volatility is one of the variables that is used to price an options.. what interesting here is when skf is going down the overall market volatility is coming down because of the market relaxing and put buying is relaxing.. but with SKF thats inverse skf coming down means those puts will loose premium quickly.. they will crush vol.. but if you buy now hold and wait till near experation you could be rewarded heavily...

BTW i think skf is topped out.. a mark to market suspention is coming and the uptick will be reinstated.. this will cause the markets to lurch forward quickly in the short term 2 month horizon..

[BradL45]

SKF peaking over $200, S&P at 700, wow

Switching gears today and tomorrow.

[trade2much]

Nice day for SKF and FAZ wow green $$$$$$$

[trade2much]

Brad: SKF dumped a bunch at 2.10 and the remaining now has a cost base of $50 per share, so it can just ride.

FAZ I bought more on a dip that one is 3x short so it is a tad more volatile % wise but this sector is in such trouble it should be ok for a while.

Unfortunately the short ETFs many times are sold on Fridays so the days gains are many times much less. We shall see if it happens today.

[BradL45]

March PUTS

BAMM

[BradL45]

SKF should rock until we hear NO Nationalization of C, or it sets a new High with any type take over news.

I think SKF is firm here above $200(for the short term).

Market has her swing back, where's the 1000 point swing days? EOD could be sporting.

hmmm

Lots of Solars getting closer to the Nov 20 lows, whats your bounce back play?

[trade2much]

Duff hell he could say the same thing about most every ETF. He just doesn't like probably because it shorts some things he owns in his charitable trust,lol

Look at the Ultra proshares you could say the same of any of them, although they currently have no volume.

Heck FAZ is even more exaggerated as is FAS and SRS does the same thing to real estate that SKF does to financials

[NorCal]

He just needs to BUY BUY BUY it. LMAO.

[Duffau]

Cramer slammed SKF AGAIN.

He hates it and points out that it is absolutely NOT to be used an an investment. Only day-traders and hedge funds can safely use it and only short term.

He asks the SEC to take it OFF the exchange.

[Duffau]

I like the way you talk

[trade2much]

Equity sounds like a plan! Thanks for the explanation.

BOL

[EquityTrader]

I'm long FAS right now...For the next two weeks...

After Obama's Stimulus package comes out, Geithner is approved, and the release of TARP comes out (all positives for financials)...it will rise a bit, and when it tops out go into FAZ/SKF. IMO Dow will go to 6500 this summer...so, short the financials...but, don't do it for at least 2 weeks...because we'll have a short term rise.

[trade2much]

EquityTrader: not sure I understood what you meant. Are you thinking SKF will do well in 2 weeks?

[EquityTrader]

In another two weeks this is going to look really good. Should see FAS rise this week on optimism and good news (stimulus, Geithner, TARP)...then WHAMMY!

[trade2much]

Brad yes they are pretty good and if you google "UltraProshares"
you should get a good detailed listing of some others

[BradL45]

SO far we are still holding the DJIA 8000-9000 Channel

AAPL on FIRE AH, I think tomorrow the rally continues. RIMM rocks as well.

I like DIG and DUG too, you have a list of good traders :)

[trade2much]

Brad yes anything 2 or 3x on an ETF is news and physcology agreed.

I trade a few of the ultras which are 2x and I also do DXO and SKF, also Dig and Dug it is a real crap shoot with them, it is all about entry and exit although some channel fairly well.

[BradL45]

http://seekingalpha.com/article/105263-direxion-launches-3x-leveraged-etfs

It's really 8, 4 bears, and 4 bulls.

4 sectors

Finance
Energy
Small cap
Large cap

I use the large cap the least.

Scary stocks, do tons of DD and chart study before using them, you don't want to be crushed when leveraged 3x. These are pure market psychological stocks and are news driven, sometime this year I think the market will return to trading on Fundamentals, and these stocks will taper out(except SRS maybe).

SKF is a good indicator of the financial sector, go with the trend. SKF usually tops around the $200 mark, and the move to $300, well the stars were aligned just right.

I like energy and Solar, DXO might be a ETN to look at, I hold it long.

GL

[trade2much]

Brad other than FAS whatelse for 3xers I use some 2x but other than FAS what are you using?

TIA

[BradL45]

Today we see how big the bounce for the banks will be. 15% in WFC, BAC, GS, JPM, V would be nice for today :)

SKF rocks, good swings and liquidity.

More SKF and SRS in my future and I'm using 4 3xer's.

I have more funds in the banks themselves, and tend to use the inverse stocks in the Roth's.

Tech news today might set the tone for the next cycle, twitchy times.

UYG, good trader with good liquidity.

GL

[trade2much]

Brad: "Flip side for me in UYG and some FAS, at least until next week."

FAS that is good one for long financials; I have not used it but I sure will in the future. I made a little on UYG, but it is tough to do when the financials keep tanking. SKF has been a heck of a lot better for me.

Thanks for the FAS 3x the long of financials.


BOL

[BradL45]

Flip side for me in UYG and some FAS, at least until next week.

Looking for some action in oil in the coming weeks as well.

GL

[NorCal]

I got back in at 140.00. Why fight it?

[BradL45]

SKF looking good today.

My play is moving gains from SRS, SKF, TWM, etc. to energy.

These are popping, and Oil will suffer, excessive inventory doesn't help as well. When the above peak(depends on the cycle), I'll move more funds to energy.

I also have 6 other stocks that tend to bounce when the ultra shorts burn out, but not long term holders, that I'm watching.

Accelerated slide hasn't happened yet, and the Obama factor would tinker with this slide.

I'm happy with the volatility return, it was getting boring lately. :)

[NorCal]

I'm going to hold out till next week and see if it goes down to 100 or less. I believe there is still a lot of bad financial news to come. So I still think this is a good play in the long term.
We might get some cheap shares with Tuesday coming.

Good luck.

I moved some $ into oil today on the dip. I should have cashed out but I left it. Do you think it is going to pop this week? I see 10-15% but it seems really volitile.

[BradL45]

Good move, and congrats on the play.

I still have shares, and will scale out as the pps drops, I don't want to be out. I'll be scaled out before I'm only 10% of long shares.

I have a nice straddle in place as well(gap down protection,lol), I'm not ready to close this play just yet.

We saw some squeeze action today, and some C bounce back. I was guessing we would see some Obama volatility before next wee.

gl

:)

[NorCal]

out at 130.00, I am not going to fight it.

[BradL45]

I'm in the middle of a nice play in DXO, I think it will be a good multiple bagger stock.

[NorCal]

Yeah. I have been eying UCO for a while. It looks like a good place to go hide while Obama is stepping in.