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ProShares Announcement
Last update: 11:25 a.m. EDT Sept. 19, 2008
BETHESDA, Md., Sep 19, 2008 (BUSINESS WIRE) -- Due to the emergency action announced by the Securities and Exchange Commission on September 18, 2008, temporarily prohibiting short sales of shares of certain financial companies, Short Financials ProShares (SEF) and UltraShort Financials ProShares (SKF) are not expected to accept orders from Authorized Participants to create shares until further notice. Unless notified otherwise, shares will be available for redemption by Authorized Participants as normal.The shares of these ProShares are expected to trade in the financial markets today, but may trade at prices that are not in line with their intraday indicative values.
SOURCE: ProShares
Announcement link in upper right corner of this page: http://finance.google.com/finance?client=ob&q=AMEX:SKF
SKF is trading now. I just bought some shares.
SKF was my prime trading stock as well. Switched to TWM this morning but I sure miss the volatility.
Had a small short on WB yesterday that I woke up early to get out of at 18. Already made most of that back on TWM so no worries.
I just think all of this govt interference is going to prolong the problems and make them much bigger in the long run.
I presume SKF will be back in Oct. I held onto 25 shares of my position yesterday for the hell of it. Couldn't liquidate them in premkt and decided just to hold on and avg down when we trade again.
Personally, I don't like it. They never did anything to change the rules with all the noise made about naked short selling in the pinks/otc's, but now that their asses are on the line, (in an election year, which you'd better believe plays into all this), they'll change the rules however necessary. It'll be interesting to see if they follow through and, if so, how it will effect the pinks/otcbb markets...if at all.
I don't like to see Ma & Pa get hurt, but the actions that are being taken by our government and the Fed, which, by the way, has NOTHING to do with government as it is a private organization, are going to hurt our country a lot more over the long haul than letting the poorly run companies die would have ever done.
Just my opinion.
Dontcha just LOVE it!?
I'm watching.
Interesting news... http://www.ft.com/cms/s/0/16102460-85a0-11dd-a1ac-0000779fd18c.html
It's amazing to listen to some on CNBC complain about short selling and manipulation in the markets when stocks are going down for very real reasons. But, when the powers-that-be decide they'll simply ban short selling in order to keep the markets propped up nobody seems to be seeing the irony of that blatant manipulative act.
Humanity never ceases to amaze me.
Correction: Replace "pretty happy" with "Thrilled!!!!!"
Now if I had only shorted on my sale! geez
Yes it's a fun ride for sure...at least when you're on the right side.
Can't complain about a 30k profit in a week. Don't mind missing a couple bucks. Right now I'm pretty happy with my trade.
Took most of my profits at 153 based on the completion of the measured move from the inverted H&S. Still have a small piece, but from a 113.45 basis, I can't complain if it rockets higher still.
You're right...almost to 150 now. As for the MS/WB news, I'm looking to short WB on any pop. Both those companies are in trouble. I don't see how a merger between two troubled companies is going to help their situation.
I only started trading this a few weeks ago. I haven't looked at another stock to trade since. As long as there is this much volatility in the financial sector there's no need to trade anything else.
Took some profits just below 145 in case my 149 - 150 target from the inverse H&S doesn't get hit. Technically speaking, the market is short-term oversold. I'd expect a bounce either into the close today or tomorrow. Next week could be ugly (not for SKF longs though).
BTW, I suspect SKF hit the high for today. If not then my 150 target should be no problem.
IMO
Rich
Hi Blockman...
I enjoyed buying in the 4's, but it's ok with me if you keep it above 6 from now on. I'll be ok, I promise.
If the couple rules stated by the SEC yesterday are all it would take to get the nss's to stop and cover then there wouldn't be a single nss in the market, imo. If there is any effect I'll be absolutely shocked...happily so for a change.
All I know is that I don't know that for sure. If you do I'd sure like to know what you do. I'm sure people said that about LEH and FNM/FRE as well.
Having written that, I certainly hope you're right.
Thanks Brent. I'll grab some .03's if we get there again.
Sounds good jstops. If it does I'll consider it a "bonus". I'll have made my investment back here and more by the end of the year even if FRGY were to go to zero.
Take care.
Just got some .0405's. Thank you!
Although I appreciate that jstops, the share price, compared to my avg, still has me feeling pretty stupid. Still looks like plenty of interested sellers, but I'm in no hurry to take a loss. I'll leave my shares alone and keep making money elsewhere.
SKF is a great trading stock and it keeps me from feeling my FRGY pain during the day.
I think you might want to seriously consider it. I'm not at all qualified to determine whether C will fail, but the experts that I have read have C on the list with WB as most likely to take the spotlight soon if not next.
Still holding all mine. em
Looks like SKF could hit my target today, although longer-term this puppy is going to $250 and probably beyond.
I wouldn't be concerned about that. I'm sure there is plenty of big money on the sidelines that can't or won't act until there is more transparency and/or until the deal gets done. Don't worry...whenever there is money to be made in the markets, the money will find it.
Moosh...
Go back to his first post of the day... http://investorshub.advfn.com/boards/read_msg.aspx?message_id=32171002 and read the post he is responding to from me.
He's not out of the stock, his comments were in reference to being out of jail.
I think you guys are talking about different things...
rheddle...moosh thinks you "bailed" on this stock, but I think you're talking about your Ihub jail time.
As for my training, It's going well. I had to alter my order cycle because I ran out of Stemulite for about a week and had trouble getting through to customer service due to the hurricane. It was an interesting experience because I was off the Stemulite for about 5 days and could certainly tell the difference. Been back on it for 4 days now and feel like I'm pretty much right where I left off, although my endurance isn't quite what it was before yet.
Rich
Right after SKF hit the 1:10 highs there was a rumor let loose on CNBC that JP Morgan is in talks to buyout WAMU, thus the dive.
Pretty nice bounce .18 above the %50 retracement. If that isn't the bottom there is another support area I missed last night above 108.11 which is around 109.20.
IMO
Guess we got the morning gap fade play instead of continuation of yesterday's momo. I shoulda known! lol
I've got an order in to buy the gap fill, but still expect at least the 50% retracement mentioned in my last post. If this IHS pattern ends up playing out there's a measured move of about $28 from the neckline break, which would be to around $150. I'm drooling like a baby in a candy store!
Just got the 112.06 fill. Here comes the 50% retracement...
I've only got 50k shares but if someone wants them I'll sell them for the avg price between the range that the stock last traded at. As far as I can see, DVPC last traded on 5/15/08 with a low of .022 and a high of .027, making the avg price for the day .0245.
So, I've got 50k for sale at .0245 if it turns out that we can do this.
Rich
Check out a 60 or 120 minute chart. The stock is potentially working out the right shoulder of a inverted head & shoulders bottom formation. You can see it on the daily chart also, just not as clearly. The recent 96.40 low candle is the head.
If the pattern does play out, watch for follow through in the morning with a bounce right around either 110.45 or 108.11 tomorrow. (Just a couple guesses purely for fun based on my charts).
Also, the 50% retracement of this weeks range is 110.485 and the 62% retracement is 107.16.
Should be fun to watch tomorrow.
jstops... All I know is that, from a technical perspective, the ADX on FRGY's daily chart isn't giving any kind of a warning sign. The only two things the ADX is currently indicating are a decrease in trend strength, which I view as positive, and a decrease in volatility, which isn't good or bad imo.
Take care.
Rich
The ADX is simply saying that the volatility is low and the stock is not in a strong trend. Above 30 indicates strengthening trend. Below 15 is when you start looking for a move out of a consolidation period. ADX is NOT an indicator of direction for a move, it is only an indicator of trend strength.
That raises the question...
What adversity??
I don't know moosh. I don't like to speculate on things I can't possibly know the answers to though. Considering MTBR is a pink sheet stock, it's safe to assume the usual shenanigans here that occur on pretty much every other pink. I haven't watched the trading much though to be able to tell for certain.
Ultimately though, I love the product and believe that in time it will become more popular. In my 20 years personal experience with fitness, both as a consumer of supplements and as a trainer, I have not experienced or heard of a legal product that gives anywhere near the benefits and results that Stemulite gives. I believe that as long as the company performs in production, sales and customer service as well as this product performs, then the stock price will eventually reflect the same.
Take care.
Rich
He's in Jail. Click on his name.
The smart ones always say similar things.
Too bad the smart ones aren't the majority!
;-P
Here are the symbols for the three you have with ????'s
BAMM - Brokerage America, LLC
CRWN - Crown Financial Group, Inc.
SCHB - Schwab Capital Markets, LP
Hello sir...
I have my tickets. Keeping one eye open for cheapies, which is a relative term.