Well sort of. I’m long from October 3rd in the leveraged mutual funds which has been well documented already, and today was a part of the massive comeback that I knew was coming. Eventually this trade will become profitable and I’m guessing by this Friday’s close or the next or the next one after that if I can be patient enough to wait. I’m down on the trade in the neighborhood now of an average of 5% in the NDX, 8% in the SPX, and about 16% in the RUT.

Today the NDX rolled up into the biggest move I’ve ever witnessed. 25% in one day for the NDX 2x players. 18.5% in the RUT, 23% in the SPX. Seriously this is fricking huge. Almost not believable.

What did kick ass today was my fresh buys of QLD and UWM on Friday at the open on the day when the Dow opened down 700 points. In those two days UWM is up 41% and QLD is up 30.75%. When you make those kind of gains in ETF’s over the course of two days the only thing you can really say is BLIZOUUUUUU. Believe me I’ve said it about 3 times already.

The UYG purchase this morning was good for 11% just off today’s action. I think that is going to roll tomorrow based on the confirmation of the news that the Treasury is going to inject money directly into bank stocks which will be good for the XLF which will be better for the UYG and in the end will be good for me and other UYG players.

If you caught Fast Money, Carter Worth is now looking for a 10-15% rally from these levels. You gotta ask yourself, what dummy said that 3 days ago?

I sold nothing today at the close and may sell some ETF’s tomorrow on the gap up and try to time my re-entry. Although I might not do any of that. I want to pick up some of those Low PE Stocks with good growth prospects.

Tags: , , , , , , , , , , ,






Thanks for reading

Want to know when I post again? Subscribe to the StockRake feed: .