Direxion Daily Technology Bear (TECS)

[Bill de MT]

You got somethings right. You bought TECS at 10.06 (which I disagreed with) and sold for a profit. I'd have advised selling on Friday as well. You got in SWC at what looked like a good pps. I'm still in it because I know it's coming back.

2 months ago, I bought TECS at 10.20 or so only to see it sink to under 8. Bounced back to almost 11, then sold it on a stop loss at 10.40. Within an hour, it started a climb of 3 bucks. Tried to flip SWC earlier this year and lost out as it ran from 10 to 15.

Gutting out TVIX and VXX these last several weeks has been brutal. Stuck with them because I figured on a bounce at some point- just hoped they didn't sink so low that the bounce would still be less than my entries. Looks like it might pay off for me in the next couple of days. If it does, then I'm green. Account has been red since 2010 with some horrible trades. And some ugly red numbers (60% or better down). Right on the edge of breaking even.

Of course, before December 2010 I tried my hand at trading twice before. Funded an account and wiped out. Ditto a couple of years later. Both times on stupid penny stock scams. Man, talk about looking and feeling foolish. The good news is that the SEC yesterday finally announced it is skewering the main culprit on the last penny scam that raped me.

Dunno- things have finally started to gel for me in my trading the last few months and can't put my finger on exactly why. I try to trade with the trend, be patient, and trade only fully reporting big boards.