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Yikes, got filled down in the $12.70s....maybe not so good. Looking like crap so far....
- IMHO
Just laid out some shorts in the TV*X’s and looking to get back in this dog. Took a little here at $13.....just for a quick bounce trade if I can get it.
- JMHO
Can’t believe I got all my shorts off above $120.....nice! Fingers crossed!!!
- JMHO
Holy Sh*t! I got stopped out late yesterday at $94 and took a $2.58/share hit!!! I should consider it a blessing considering what’s going on this morning though! I’m still looking to get out a new short position today but not sure where.....maybe $120 at the opening. Might just do that in small lots.
- JMHO
Just laid out another lot (short) at $92 to increase my price of my overall short position. Keeping my eye on the SPYs....
- IMHO
Agreed! My thinking is that even if there’s a full blown bear market on the way- you’re going to get a viscous snap back up in the markets before another leg down. If there’s no pending bear market then it’ll be a quick correction before retesting the old highs.
- IMHO
Yes, got my last shorts off at $90, $91, $93 and $93.67....my dollar cost avg is near $91!
- IMHO
Have an another (Short) order laid out at $90. Let’s see if it gets filled.....scary sh*t shorting this during market panics but looking for the calm to settle in soon. We’ll see.
- JMHO
I’m thinking this is going to test $10.....If the markets have begun their correction (already 10% retracement), then I’m suspecting that the MJs should head lower. If the markets have a 20% correction then why wouldn’t we expect the MJs to test $10?
- IMHO
Just laid out a small short position. Looking to add to it depending on the morning action.
- IMHO
Got stopped out of everything at $15.70 this morning! Took an overall hit of $0.44/share! Oh well, that’s how the cookie crumbles...
- IMHO
I picked a little bit more at $15.78 this morning. Still bearish (as are most) but I want to see how this performs as the markets have a deep pullback from its highs. Not taking anything for granted with this thing because we could see it break $15 on the down side if the markets have a major sell off.
- IMHO
This is still acting very weak. If it had jumped and opened over $17 (and stayed above that) while the overall markets are pulling back, here, then it would be the kind of signal I’m looking for to add to my position. Otherwise it’s still showing relative weakness.
- JMHO
You could be right as it’s more likely that this dog keeps going lower than going “back up”.....let’s see.
- IMHO
Bought some Wednesday and yesterday with pretty much the same dollar cost average $0.30.
And I agree with you in that $0.40 should be the first target but this has definitely been one of the worst dogs in the group so we’ll see....
- JMHO
This is probably one of the worst of the MJ bunch but I’m going to take a small shot....Just picked up my first position in this at $0.30. Let’s see if it can “bounce” to $0.40 from here. Not expecting much on this though.
- JMHO
I agree...I can this thing easily being flushed down to the $12s.....I’ve already lightened up some at $16. Not worth the risk. I see only relative weakness here. Markets are at, or near, all time highs and this continues to make new lows. What can be expected when the markets have a 10%, or more, correction?
- JMHO
This is getting dicey hovering down the $15s while the market continues to go higher...not the ideal situation to be bottom fishing.
- IMHO
I lowered my stop lost (a very bad habit that I still haven’t been able to break) down to $15.50 which it didn’t hit yet. In fact, I’m embarrassed to say that I picked up some more at $15.95 (where my previous stop loss was at). We’ll see....It still looks like a falling knife.
- IMHO
Still long my original position with a dollar cost average of $16.30s but I never picked up anymore in the recent downdraft into the $16s. Not kicking myself yet because this index is not showing relative strength compared to the whole the market. Need that to be validated in order to really commit into a larger, longer term position.
- IMHO
The bear market in this (MJ) index won’t be over until we see a major correction (10-20%) in the overall markets (Dow, NASDAQ, S&P) and the MJ fails to make new lows. In fact, when we see it well off it’s lows despite the overall markets correcting....that will be the signal to go long the MJs!
- IMHO
I’m tempted on adding some more “down here” but I hate catching falling knives especially in one of the weakest indexes in the market. Need to see this hold above $16 while the overall market continues to correct before adding any more. Still going to keep a stop loss at $15.95 with what’s left of my position (average dollar cost around these levels).
- JMHO
Good points. I want to see the relative strength in the MJ (as its been all relative weakness as the general markets have made new highs). If the MJs can hold above $16 while the there’s a 5% (or more) correction in the major markets then it might be the bottom for the MJ. Otherwise expect new lows as its been the one of the weakest indexes so far so one would expect it to go lower with the general market. This is what I’ve been waiting to see.
- JMHO
I just picked up some at $16.80, looking to build a decent position.
- IMHO
Might look to get back in if it drops into the $16s again. Otherwise I’m standing pat. Enjoy the weekend everyone!
- JMHO
Sold some at the opening here slightly above $19. Keeping the rest or will look to add on any pullback.
- JMHO
Might take a little profit at $19 and ride the balance....we’ll see.
- JMHO
Still long from a dollar cost average of $16.30.....looking for intermediate move to about $19-$20 range. We’ll see.
- IMHO
Thanks! Will to start to up my stop loss in order to lock in a profit!
- JMHO
Agreed! Still have my long position with a dollar cost average of about $16.30! Let’s see what happens next....
- IMHO
Yes, too funny. I’m still in it and slightly in the green. Let’s see if this thing can work it’s way above $17 tomorrow!
- IMHO
I can’t believe I didn’t get stopped out! That’s hilarious....first time that happened!! Back in the green with this thing with my original position. I don’t mind accumulating some more down here as long as it doesn’t break below $16 again.
- JMHO
Yes, it’s disintegrating by the hour. I have a stop loss at $15.95 which will most likely get triggered. If so, it’s a small loss in trying to catch a bottom which doesn’t seem in sight anytime soon....
- JMHO
Just picked up some more at $16.35! Keeping a tight stop down around $15.95....just in case.
- JMHO
Thanks! Looking to see if there’s any short term bounce to this tremendously beat down sector! Let’s see
- IMHO
Picked up a initial position at $16.27...looking to accumulate down here.
- JMHO
Sold my whole position this morning at $7.26 after seeing the announcement of the reverse split. Can’t hold this (especially over the weekend) now that the RS is official. Have a great weekend everyone!
- IMHO
Still long....have not been stopped out yet. Looking for a intermediate trade (two weeks or so). We’ll see.
- IMHO
Still long with a dollar cost average of $6.97 and will be moving my stop loss up slightly higher to lock in my profits. Looking for an intermediate timeline trade...
- IMHO
If my calculations are right about the coming pullback then I’d stick around til this hits $10! Or at the very least keep raising my stops to lock in my profits!
- IMHO