Out. Even GILD's getting Smacked

[Zhong Lu + 845]

Back to break even for the year.  Eh.  

[Zhong Lu + 845]

Back in GILD. Let's see where this goes. 

[Zhong Lu + 845]

Nope.  

[Otis11 + 551]

See - that's where I said having a much easier time picking losers...

Short Oil, Short travel... heck, short a bunch of random stocks across just about everything. Stayed away from tech and anything related to medical as they're wild cards. (Oh, or anything that produced staples like wipes, hand sanitizer, masks, tissues, TP, food/snacks, etc. They happen to be down too, but again, wildcard.)

Now we're starting to get down there. Personally I think we still have another week or 2 of drops, but starting to unwind. Wouldn't be surprised to see 40% off peak on SP500.

[Zhong Lu + 845]

I'm trying desperately to resist the urge to buy SPXL right now, go all in, and be like f- it.  If I go bankrupt, I'm taking the S*P with me.  Too early I think.  But jesus the urge is strong.  

[Zhong Lu + 845]

Actually, doing it. SPXL.  Large position. Due for a bounce.  What it's going to do: drop another 10% the next day? 

[0R0 + 6,251]

That is actually a big hit for me, as gold and PGM and Silver related equities are the bulk of what I am holding now. 

Today was a iiquidity event and hopefully the Fed's program will make a difference. 

China delivered an official 12% y/y inflation print. More to come even with oil prices spilled on the ground.

[0R0 + 6,251]

I am looking for recovery in gold tomorrow. If the dollar spikes up again, then it will have to wait another day. 

[Zhong Lu + 845]

Best of luck 0R0.  I'm out of everything now except maybe a few thousand in UGAZ.  Reading up on options and um, gamma decay or something [I don't understand what he's saying but it sounds scary, and SPXL was FAILING TO TRACK PRICES], and I'm out.  https://seekingalpha.com/article/4331252-what-hell-is-going-on

Down a few percent for the year (2020) and definitely tilted.

To the rest of you bozos: I'll see you in two weeks to a month.  No more trading. Time to take a break.  

Edited March 12, 2020 by Zhong Lu

[George8944 + 128]

7 hours ago, Zhong Lu said:

Back in GILD. Let's see where this goes. 

I bought options on GILD last week.  So far, so good.

[0R0 + 6,251]

4 hours ago, Zhong Lu said:

Best of luck 0R0.  I'm out of everything now except maybe a few thousand in UGAZ.  Reading up on options and um, gamma decay or something [I don't understand what he's saying but it sounds scary, and SPXL was FAILING TO TRACK PRICES], and I'm out.  https://seekingalpha.com/article/4331252-what-hell-is-going-on

Down a few percent for the year (2020) and definitely tilted.

To the rest of you bozos: I'll see you in two weeks to a month.  No more trading. Time to take a break.  

GILD is looking like it hit support. Perhaps time to get back in?

[Zhong Lu + 845]

One last trade before I stop for a while: UGLD.  100%. Let's do it.  

GILD has triangles.  Descending triangle on the 5 day.  Head and shoulders potential on the one month.

P.S. I bought some JNUG last Friday.  Sold on Monday at a loss [included as part of the overall weekend debacle].  Over the next two days it dropped 80%.  I'll take that as a sign of luck. Extra life.  May as well use it. UGLD is at support.  And if it goes wrong, I get hurt, but I won't be dead.  

P.S.S. Thought about GLD, UGLD, JNUG, UGAZ, GILD, SPXL.  Decided to go with UGLD.  Reasons:

1.  UGAZ is always a risk and the downtrend is still intact.

2. GLD doesn't have enough volatility.

3. JNUG has too much of it.  Dear God.  Just look at JNUG.  

4.  SPXL.  Er.  Over the weekend? Might work out. Might not.  Don't know.

5. UGLD.  Unlikely to go wrong given the massive amount of money that's about to be printed.  Also, support and charts look ok. 

 

EDIT:  Decided on mostly UGAZ.  Some UGLD.  75-25.  Tonight's price action in natural gas confirms "double bottom." Bounced where it should have.  Production is about to plummet thx to low oil prices and we're due for short covering.

Edited March 13, 2020 by Zhong Lu

[Zhong Lu + 845]

UGAZ only now.

[Zhong Lu + 845]

Out.  This has not been a great two weeks.  But my capital is intact, albeit my profits have been shredded.

Not gonna trade for a while.  EVERYTHING is collapsing, financially.  But I am.... Still Alive.  

Edited March 16, 2020 by Zhong Lu

[Douglas Buckland + 6,308]

Yeah, that’s all well and good...but did you take time out to buy a boat load of toilet paper?😂

[Zhong Lu + 845]

As a matter of fact, yes.